Aecom offers to purchase 5 7/8% notes due 2024 for up to $500 million

By Taylor Fox

New York, March 24 – Aecom has begun a cash tender offer for up to $500 million aggregate purchase price of its $797,252,000 outstanding 5 7/8% senior notes due 2024 (Cusip: 00766TAD2), according to a company release.

Aecom is also soliciting consents to amend the indenture governing the notes to eliminate substantially all of the restrictive covenants and some events of default and to change some notice requirements for redemption of the notes.

Holders who tender notes by the 5 p.m. ET April 6 early tender deadline will receive the total consideration of $1,146.25 per $1,000 of notes, including a $30 early tender premium.

Holders who tender notes after the early deadline but before the expiration will receive $1,116.26 per $1,000 of notes.

Aecom will also pay interest on the notes. Interest is not included in the aggregate maximum purchase price.

If the amount of notes tendered exceeds the tender cap, the notes will be accepted using a proration factor, and the consents delivered will be null and void.

The early settlement date is expected to be April 13.

The offer and consent solicitation will expire at 11:59 p.m. ET April 20.

The final settlement date will be April 22.

BofA Securities (980 388-3646; debt_advisory@bofa.com) is the dealer manager, and D.F. King & Co., Inc. (800 290-6426, 212 232-3233; aecom@dfking.com) is the tender and information agent.

Based in Los Angeles, Aecom designs, builds, finances and operates infrastructure assets for governments, businesses and organizations.

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