Fluor tweaks covenant terms for $3.5 billion of revolving loans

By Susanna Moon

Chicago, Aug. 23 – Fluor Corp. adjusted a covenant for its $3.5 billion of amended revolving loan and letter-of-credit facilities, according to an 8-K filing with the Securities and Exchange Commission.

The amendments replace the debt to tangible net worth ratio covenant in each facility with a debt to capitalization ratio covenant that prohibits this ratio from exceeding 0.6 times, the filing noted.

Fluor amended its $1.8 billion revolving loan and letter-of-credit facility and $1.7 billion revolving loan and letter-of-credit facility, each dated Feb. 25, 2016, on Monday with BNP Paribas as administrative agent, Bank of America, NA as syndication agent and Citibank, NA and Bank of Tokyo-Mitsubishi UFJ, Ltd. as co-documentation agents.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.