Jacobs to pay down floating-rate debt with proceeds of unit sale

By Rebecca Melvin

New York, April 29 – Jacobs Engineering Group said it is paying down floating-rate debt with proceeds of the sale of its energy, chemicals and resources segment to WorleyParsons Ltd.

The paydown is part of the company’s strategic plan toward disciplined deployment of capital and business growth through acquisitions, according to a press release.

Earlier this month, the company purchased KeyW for $815 million, including $272 million of debt.

Jacobs is a Dallas-based engineering firm, and KeyW is a Hanover, Md.-based cybersecurity company.

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