Chicago Bridge amends loan, which may be increased to $1.25 billion

By Jennifer Chiou

New York, July 29 - Chicago Bridge and Iron Co. NV amended its credit agreement for a committed and unsecured $1.1 billion four-year revolving credit facility, which may be increased to $1.25 billion, according to an 8-K filed with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA is the administrative agent, and Bank of America, NA is the syndication agent.

The revolver is available for performance letters of credit with a sublimit of up to $550 million.

The facility expires and is repayable on July 23, 2014.

Restrictive financial covenants included a minimum net worth level, a minimum fixed-charge coverage ratio and a maximum leverage ratio.

Chicago Bridge is a The Hague, Netherlands-based engineering, and procurement and construction company.

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