Fluor extends $3.5 billion revolvers to 2021, draws down $220 million

By Angela McDaniels

Tacoma, Wash., March 2 – Fluor Corp. amended and restated its $1.8 billion and $1.7 billion revolving credit facilities on Feb. 25 to extend their maturity dates to Feb. 25, 2021, according to an 8-K filing with the Securities and Exchange Commission.

The amendments also add Fluor BV as a potential borrower and allow the borrowers to borrow in pounds sterling, euros and Canadian dollars in addition to U.S. dollars.

BNP Paribas is the administrative agent and an issuing lender. Bank of America, NA is the syndication agent. Citibank, NA and MUFG are the co-documentation agents.

In addition, the company borrowed roughly $220 million under the $1.7 billion revolver on Tuesday and used the proceeds and about $82.5 million of cash on hand to close the acquisition of Stork Holding BV. The purchase price was about $755 million, including Stork’s existing debt and other liabilities.

Irving, Texas-based Fluor is a holding company for engineering, construction and maintenance subsidiaries.

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