KBR, INC. (KBR): debt financing — KBR closes $1B incremental term B loan, extends maturity to 2031

KBR, INC.

Borrowed $1.0B incremental Term B loan; used to repay existing term B loans and partially reduce revolver.
Maturity extended from Feb 2027 to Jan 2031; interest rate margin set at 2.25% Term SOFR (initial), stepping down to 2.00% at low leverage.
Quarterly amortization of 0.25% of initial principal ($2.5M/quarter) begins June 2024.
Consolidated net leverage ratio unchanged; other material terms remain substantially the same.
1.00% prepayment premium applies on repricing events within six months (excludes change of control, asset sale, material acquisition).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

KBR, INC. incurred term loan of $1.0 billion with Bank of America, N.A., as administrative agent, swing line lender and a letter of credit issuer, the lenders party thereto maturing January 19, 2031.

Instrument: term loan
Principal: $1.0 billion
Counterparty: Bank of America, N.A., as administrative agent, swing line lender and a letter of credit issuer, the lenders party thereto
Maturity: January 19, 2031
Event: incurrence

Exact text from the filing

On January 19, 2024, the Company borrowed the full $1.0 billion principal amount available under this additional loan

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

KBR, INC. amended Credit Agreement with Bank of America, N.A. valued at $1.0 billion (effective 2024-01-19).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A.
Value: $1.0 billion
Effective: 2024-01-19

Exact text from the filing

On January 19, 2024, KBR, Inc. (the “Company”) entered into Amendment No. 11 (the “Amendment”) to its existing Credit Agreement

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283 debt financings filed in the last 30 days. Browse all debt financings →

KBR, INC. filing history →

Source: SEC EDGAR

accession 0001357615-24-000004

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