Aecom gets $600 million term loan led by Bank of America, Union Bank

By Sara Rosenberg

New York, Sept. 22 - Aecom Technology Corp. closed on a new $600 million four-year term loan, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Bank of America and Union Bank acted as the co-lead arrangers on the deal that was completed on Sept. 16, with Bank of America the bookrunner.

Pricing on the term loan is Libor plus 250 basis points. The spread can range from Libor plus 200 bps to 325 bps based on the debt-to-earnings leverage ratio.

There is a $100 million accordion feature.

Proceeds were used to repay revolver borrowings and other short-term debt and are available for general corporate purposes, including potential future acquisitions.

Aecom is a Los Angeles-based provider of professional technical and management support services to government and commercial clients.

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