Aecom Technology plans roadshow for $1.6 billion two-part notes offer

By Paul A. Harris

Portland, Ore., Sept. 10 – Aecom Technology Corp. plans to start a roadshow on Thursday for a $1.6 billion two-part offering of senior notes (Ba3/BB-), according to a market source.

The deal includes notes maturing in 2022, which come with three years of call protection and feature a three-year 35% equity clawback.

In addition Aecom Technology is selling non-callable notes maturing in 2024.

Tranche sizes remain to be determined.

The roadshow wraps up on Sept. 17.

BofA Merrill Lynch, BNP Paribas Securities Corp., J.P. Morgan Securities LLC, MUFG, Scotia Capital and Morgan Stanley & Co. LLC are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering. BBVA, HSBC, SMBC Nikko and Wells Fargo Securities LLC are the co-managers.

The San Francisco-based provider of engineering, construction and technical services plans to use the proceeds, along with proceeds from a $1.83 billion credit facility, to help fund the acquisition of URS Corp., and to refinance debt at Aecom and URS.

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