Aecom extends revolver, term loan, downsizes revolver to $1.15 billion

By Wendy Van Sickle

Columbus, Ohio, Feb. 8 – Aecom entered into an amendment to its credit agreement on Monday that pushed out the maturity of the revolver and term loan provided for under the agreement until Feb. 8, 2026 and reduced the revolver to $1.15 billion, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement is originally dated Oct. 17, 2014 with Bank of America, NA as administrative agent.

The interest rate is Libor plus a margin that is currently 150 basis points and is subject to adjustment linked to achievement of certain sustainability and diversity and inclusion goals, including reducing greenhouse gas emissions and increasing the percentage of women in the organization.

The term loan is sized at $247 million.

Aecom is required to maintain a consolidated interest coverage ratio of at least 3x and a consolidated leverage ratio of less than or equal to 4x.

Based in Los Angeles, Aecom designs, builds, finances and operates infrastructure assets for governments, businesses and organizations.

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