Aecom gets $750 million amended, restated term loan due 2016

By Angela McDaniels

Tacoma, Wash., Oct. 6 - Aecom Technology Corp. borrowed $750 million on Sept. 30 under an amended and restated term loan, according to an 8-K filing with the Securities and Exchange Commission.

The term loan matures on July 20, 2016. It has a $100 million accordion feature.

The initial interest rate is Libor plus 175 basis points. The margin ranges from 137.5 bps to 250 bps and is based on the company's leverage ratio.

Payments of the initial principal amount are required on a quarterly basis beginning on Dec. 31, 2012.

The company may optionally prepay the loans at any time without penalty.

Bank of America Merrill Lynch is the bookrunner and lead arranger. Union Bank, NA is the co-lead arranger. Bank of America, NA is the administrative agent.

Union Bank, Wells Fargo, NA, HSBC Bank USA, NA, Sumitomo Mitsui Banking Corp. and BBVA Compass are the syndication agents.

The company used $600 million of the proceeds to repay debt under its prior term loan facility and $147 million to pay down debt under its revolving credit facility.

Aecom provides engineering and management support services. It is based in Los Angeles.

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