Aecom sets $700 million term loan B at SOFR plus 187.5 bps

By Sara Rosenberg

New York, April 16 – Aecom firmed pricing on its $700 million seven-year first-lien term loan B (Baa3/BBB-) at SOFR plus 187.5 basis points, the low end of the SOFR plus 187.5 bps to 200 bps talk, according to a market source.

Also, the original issue discount talk on the term loan was changed to a range of 99.5 to 99.75 from just 99.5, the source said.

The term loan still has a 0% floor, 101 soft call protection for six months and no CSA.

BofA Securities Inc. is the left lead arranger on the deal.

Commitments are due at 1 p.m. ET on Wednesday, revised from 10 a.m. ET on Wednesday, the source added.

The company also plans on getting a new term loan A.

Proceeds from the term loans will be used to refinance the company’s existing first-lien credit facilities and to add cash to the balance sheet.

Aecom is a Dallas-based provider of professional infrastructure consulting services.

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