KBR Enhances its Capital Structure and Financing Flexibility

Source: www.gulfoilandgas.com 11/24/2021, Location: North America

KBR announced that on November 18, 2021, the company successfully closed the fifth amendment to its credit agreement dated April 25, 2018, as previously amended.

Following a strategic shift in the company's business mix, consistent performance against long-term financial targets, improvement in corporate credit ratings, and the continued resolution of legacy matters, the amendment measurably improves the company's flexibility and reduces its debt service cost.

"This amendment marks another milestone in our capital structure evolution and reflects the company's shift toward delivery of high-end differentiated solutions and technologies in growing, attractive end markets," said Stuart Bradie, KBR President and CEO. "Building on accelerating momentum across the business, KBR has significant capital deployment flexibility as we look ahead to 2025 and beyond."

The amendment increases capacity and flexibility under certain financial and negative covenants, permits the netting of unrestricted cash up to a specified cap for purposes of calculating the leverage ratio, reduces the interest rate payable and applicable margin pricing grid for the term loan A facility and the revolving credit facility, and extends the maturity date of the term loan A facility and the revolving credit facility from February 2025 to November 2026.


Canada >>  7/1/2022 - Osisko Development Corp. announces that, as part of the Company’s annual compensation review, the Board of Directors has authorized the grant of an ag...
Greece >>  7/1/2022 - Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that it has entered into an agreement ...

Monaco >>  7/1/2022 - Costamare Inc. has declared cash dividends of US $0.476563 per share on its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock (the “Seri...
Monaco >>  7/1/2022 - Eneti Inc. announced that Scorpio Holdings Limited (“SHL”), a related party, has purchased 288,697 common shares of the Company at an average price of...

Netherlands/Holland >>  7/1/2022 - Royal Boskalis Westminster N.V. (Boskalis) has taken note of the press release issued by HAL Holding N.V. (HAL) on 24 June 2022 in which it formally a...
Nigeria >>  7/1/2022 - Further to the Company's announcement on 3 May 2022, San Leon, the independent oil and gas production, development and exploration company focused on ...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.