Fluor enters $1.8 billion second amended, restated revolving loan

By Wendy Van Sickle

Columbus, Ohio, Feb. 17 – Fluor Corp. amended and restated its existing credit facilities by entering an upsized $1.8 billion third amended and restated revolving loan and letter-of-credit facility dated Feb. 17, according to an 8-K filing with the Securities and Exchange Commission.

The maturity date has been extended to Feb. 17, 2025.

The amended facility contains financial and restrictive covenants, including a debt-to-capitalization ratio that cannot exceed 0.6 to 1, a limitation on the amount of debt of the greater of $750 million or €750 million for subsidiaries and a minimum liquidity threshold of $1.25 billion, which may be reduced to $1 billion upon the repayment of debt.

BNP Paribas is the administrative agent and issuing lender; Bank of America, NA, is the syndication agent; and Citibank, NA and Wells Fargo Bank, NA are co-documentation agents.

Fluor is an Irving, Tex.-based global engineering, construction and maintenance company.

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