Jacobs Engineering to use proceeds for revolver paydown

By Mary-Katherine Stinson

Lexington, Ky., Aug. 15 – Jacobs Engineering Group Inc. will use the proceeds from a new offering of guaranteed senior notes to pay down a portion of the company’s $2.25 billion long-term revolving credit agreement dated Feb. 7, 2014, according to a 424B5 filing with the Securities and Exchange Commission.

The revolver is set to mature in February 2028.

As of June 30, approximately $806.15 million was outstanding under the agreement, bearing interest at SOFR plus a margin ranging between 87.5 bps and 162.5 bps.

The weighted average interest rate, including the applicable margin, for the fiscal quarter ended June 30 based on the interest rates prior to refinancing was approximately 5%.

Jacobs is a Dallas-based engineering firm.

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