Aecom launches $500 million term loan B at Libor plus 175-200 bps

By Sara Rosenberg

New York, Feb. 15 – Aecom was scheduled to hold a lender call at 3:30 p.m. ET on Thursday to launch a $500 million seven-year covenant-light term loan B that is talked at Libor plus 175 basis points to 200 bps with a 0% Libor floor and an original issue discount of 99.75, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Bank of America Merrill Lynch is the left lead arranger on the deal.

Commitments are due at noon ET on Feb. 22, the source added.

Proceeds will be used with new Canadian and Australian dollar term loans to refinance the company’s existing term loan A and 5.75% senior notes due 2022.

Aecom is a Los Angeles-based designer, builder, financer and operator of infrastructure assets for governments, businesses and organizations.

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