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Aecom ups term loan B to $600 million, firms at Libor plus 175 bps
By Sarah Lizee
Olympia, Wash., Feb. 22 – Aecom Technology Corp. increased its seven-year term loan B to $600 million from $500 million and set pricing at Libor plus 175 basis points, the low end of the Libor plus 175 bps to 200 bps talk, according to a market source.
Additionally, the original issue discount on the term loan was revised to par from 99.75, the source said.
The term loan still has a 0% Libor floor, 101 soft call protection for six months and amortization of 1% per annum.
Bank of America Merrill Lynch is the left lead arranger on the deal.
Commitments were due at noon ET on Feb. 22, with allocations due thereafter, 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 5¾% 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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