Slaughter and May advised John Wood Group PLC on the extension of its US$1.75bn revolving credit facility to May 2023.
The current US$1.75bn will step down to US$1.5bn in May 2022 and remain at that level until maturity in May 2023. Wood secured the extension at competitive market rates with covenants remaining unchanged at 3.5x pre-IFRS 16 EBITDA.
John Wood Group plc, commonly known as Wood, is a British multinational energy services company with headquarters in Aberdeen, Scotland.
Slaughter and May’s team included Matthew Tobin (Picture), Partner and Alistair Stark, Associate.
Law Firms: Slaughter and May;
Clients: Wood Group;