Wait, don't miss out on the latest GovCon industry news!

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings

*By clicking "Join us now" you agree to receive email, promotions and general messages from GovCon Wire, In addition, you also agree to GovCon Wire Privacy Policy and Terms & Conditions.

X Remind me Later
Stuart Bradie President and CEO KBR

KBR Enhances Capital Structure by Replacing PLOC with RCF; Stuart Bradie Quoted

KBR has announced the successful amendment of its existing Credit Agreement, marking another step in its capital structure and deployment strategy, the company reported on Wednesday.

"Building on our strong earnings and cash performance in Q1 this gives KBR significant capital deployment flexibility at an opportune time. Further, it reflects our resilience, improved overall financial outlook and transformed and de-risked business mix," said Stuart Bradie, KBR president and CEO.

KBR has replaced its $500 million Performance Letter of Credit (PLOC) capacity with Revolving Credit Facility (RCF) capacity under its existing Credit Agreement. The change in business has included the recently announced exit from lump-sum EPC, and improvement in its corporate credit ratings. 

The PLOC to RCF replacement has enabled all capacity formerly available under the PLOC to effectively convert, which will increase RCF capacity from $500 million to $1 billion, with no change to RCF rates. Aggregate capacity under the Credit Agreement remains unchanged at $1.795 billion.

"This marks another milestone in our capital structure evolution," added Bradie. 

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Energy sectors. KBR employs approximately 37,000 people worldwide (including our joint ventures), with customers in more than 80 countries and operations in 40 countries, across three synergistic global businesses: Government Solutions, Energy Solutions, Technology Solutions.

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about Financial Reports

Related Articles