John Wood Group PLC’s US$1.75 Billion Revolving Credit Facility Extension

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.

Involved fees earner: Alistair Stark – Slaughter and May; Matthew Tobin – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Wood Group;