JACOBS SOLUTIONS INC. (J): debt financing — Jacobs issues $500M 5.900% sustainability-linked notes due 2033

JACOBS SOLUTIONS INC.

$500M aggregate principal of 5.900% senior notes due March 1, 2033; fully guaranteed by Jacobs Solutions.
Net proceeds of ~$494M will repay a portion of outstanding revolver borrowings.
Treasury lock hedge resulted in a pre-tax gain of $37.4M, lowering effective rate to 4.996%.
Interest steps up 12.5 bps in 2028 (gender diversity target) and 2030 (GHG target) if unmet.
Notes callable at par after December 1, 2032; change-of-control put at 101% with rating downgrade.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

JACOBS SOLUTIONS INC. incurred senior notes of $500,000,000 aggregate principal amount at 5.900% maturing March 1, 2033.

Instrument: senior notes
Principal: $500,000,000 aggregate principal amount
Rate: 5.900%
Maturity: March 1, 2033
Event: incurrence

Exact text from the filing

On February 16, 2023, Jacobs Engineering Group Inc. (“JEGI”), a wholly-owned subsidiary of Jacobs Solutions Inc. (the “Company”), completed an offering of $500,000,000 aggregate principal amount of its 5.900% Sustainability-Linked Senior Notes due 2033 (the “Notes”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

JACOBS SOLUTIONS INC. entered into Indenture with U.S. Bank Trust Company, National Association valued at $500,000,000 aggregate principal amount of its 5.900% Sustainability-Linked Senior Notes due 2033 (effective 2023-02-16).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $500,000,000 aggregate principal amount of its 5.900% Sustainability-Linked Senior Notes due 2033
Effective: 2023-02-16

Exact text from the filing

On February 16, 2023, Jacobs Engineering Group Inc. (“JEGI”), a wholly-owned subsidiary of Jacobs Solutions Inc. (the “Company”), completed an offering of $500,000,000 aggregate principal amount of its 5.900% Sustainability-Linked Senior Notes due 2033 (the “Notes”).

View on SEC.gov

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JACOBS SOLUTIONS INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-041184

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