Jacobs Engineering’s $1 Billion Term Loan Facility

Paul Hastings LLP advised Jacobs Engineering Group, Inc. and Jacobs U.K. Limited in connection with a $1 billion term loan facility.

Under the term loan facility, Jacobs Engineering Group, Inc., one of the world’s largest and most diverse providers of highly technical services, will borrow an aggregate principal amount of $730,000,000 and Jacobs U.K. will borrow an aggregate principal amount of £250,000,000 on March 26, 2020. The term loan facility matures on the fifth anniversary of the funding, and will be used for general corporate purposes.

Bank of America, N.A. served as administrative agent, with Bank of America, N.A., and BNP Paribas and Wells Fargo Bank, N.A., as co-syndication agents. The Bank of Nova Scotia, Goldman Sachs Bank USA, HSBC Bank, USA, PNC Bank, National Association, TD Bank, N.A. and U.S. Bank National Association, were co-documentation agents, and BofA Securities, Inc., BNP Paribas Securities Corp. and Wells Fargo Securities, LLC, served as joint lead arrangers and joint bookrunners.

Jacobs Engineering Group Inc. provides a broad range of technical, professional, and construction services to a large number of industrial, commercial, and governmental clients around the world. The Company offers interior, construction management, scientific research and testing, architecture, engineering, and operations and maintenance services.

The Paul Hastings team was led by partners Lindsay Sparks (Picture) in Palo Alto and Richard Kitchen in London, with associates Angela Kim, Amy Lawrence, Jiten Tank, Amin Doulai, and Andrew Lowndes assisting.

Involved fees earner: Richard Kitchen – Paul Hastings; Amy Lawrence – Paul Hastings; Andrew Lowndes – Paul Hastings; Lindsay Sparks – Paul Hastings; Jiten Tank – Paul Hastings;

Law Firms: Paul Hastings;

Clients: Jacobs Engineering Inc.; Jacobs UK Ltd;

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Author: Ambrogio Visconti