Stantec plans $1.25 billion revolver, term loan for MWH acquisition

By Tali Rackner

Norfolk, Va., March 30 – Stantec Inc. said it plans to enter into an $800 million senior secured revolving credit facility and a $450 million senior secured amortizing non-revolving term credit facility to help fund its acquisition of MWH Global, Inc., according to a Tuesday filing with the Securities and Exchange Commission.

The company plans to draw about $233 under the revolver.

Stantec has also secured a $525 million bridge facility, which could be used in conjunction with the revolver and the term facility to fund the acquisition in the event the equity financing is not completed on or before the acquisition closing date. The bridge facility will be terminated in the event the equity financing closes.

Stanton is an Edmonton, Alta.-based design and consulting company. MWH Global is a Broomfield, Colo.-based global engineering, consulting and construction management firm.

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