Aecom lifts term B to $700 million, flexes to Libor plus 175 bps

By Sara Rosenberg

New York, April 9 – Aecom upsized its seven-year term loan B to $700 million from $500 million and reduced pricing to Libor plus 175 basis points from Libor plus 200 bps, according to a market source.

In addition, the original issue discount on the term loan was tightened to 99.25 from 99, the source said.

The term loan still has a 0% Libor floor and 101 soft call protection for six months.

BofA Securities Inc. is the lead on the deal.

Proceeds will be used to fund a tender offer for the company’s 5 7/8% senior notes due 2024.

The tender offer expires on April 20.

Aecom is a Los Angeles-based infrastructure consulting firm.

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