Aecom increases revolver to $1.05 billion, extends maturity to 2016

By Angela McDaniels

Tacoma, Wash., July 26 - Aecom Technology Corp. entered into an amended and restated revolving credit facility. It replaces a facility set to expire in 2012, increases the borrowing capacity to $1.05 billion from $600 million and expires on July 20, 2016.

There is a $100 million accordion feature, according to an 8-K filing with the Securities and Exchange Commission.

The initial pricing is Libor plus 150 basis points plus a commitment fee of 25 bps. The spread over Libor ranges from 100 bps to 250 bps, and the commitment fee ranges from 15 bps to 37.5 bps. Both are based on leverage.

Borrowings can be made in U.S. dollars, euros, pounds sterling, Japanese yen, Canadian dollars, Australian dollars, Singapore dollars, New Zealand dollars, Hong Kong dollars or Swiss francs.

Bank of America Merrill Lynch is the bookrunner. It, Union Bank, NA, BNP Paribas Securities Corp. and Wells Fargo Securities, LLC are the lead arrangers. Bank of America, NA is the administrative agent. Union Bank, BNP Paribas and Wells Fargo Bank, NA are the syndication agents. HSBC Bank USA, NA is the documentation agent.

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

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