Amec Foster Wheeler looks to increase facilities’ leverage covenant

By Angela McDaniels

Tacoma, Wash., March 13 – Amec Foster Wheeler plc has begun a process to increase the leverage covenant in its debt facilities to provide additional headroom prior to the measurement period ending June 30, according to a 6-K filing with the Securities and Exchange Commission.

With the proceeds of the planned disposal of the company's nuclear business now expected in the third quarter, the company needs the increase to ensure continued compliance with its financial covenants.

Amec Foster Wheeler is based in London and offers consultancy, engineering, project management, operations and construction services, project delivery and specialized power equipment services to the oil, gas, chemicals, mining, power, environment and infrastructure markets.

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