AECOM announces the redemption of its 5.000% senior notes due 2022
August 31 2020 - 5:02PM
Business Wire
AECOM (NYSE:ACM), the world’s premier infrastructure consulting
firm, today announced that AECOM Global II, LLC (the “Issuer”), a
subsidiary of AECOM, has redeemed all of its outstanding 5.000%
senior notes due 2022 (the “Notes”), in an aggregate principal
amount of $248,522,000 (the “Redemption”). AECOM had announced on
August 4, 2020 that it had delivered a Notice of Redemption for the
Notes. The Redemption was funded using cash on hand and $248.5
million in proceeds from a July 30, 2020 borrowing under the
Company’s lower-cost delayed draw term loan facility. With the
completed Redemption, the Company has added lower-cost,
longer-duration and pre-payable debt that will result in annual
cash interest savings of approximately $6 million.
About AECOM
AECOM (NYSE:ACM) is the world’s premier infrastructure
consulting firm, delivering professional services throughout the
project lifecycle – from planning, design and engineering to
program and construction management. We partner with our clients in
the public and private sectors to solve their most complex
challenges and build legacies for generations to come. On projects
spanning transportation, buildings, water, governments, energy and
the environment, our teams are driven by a common purpose to
deliver a better world. AECOM is a Fortune 500 firm and its
Professional Services business had revenue of approximately $13.6
billion in fiscal year 2019. See how we deliver what others can
only imagine at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of
historical fact are “forward-looking statements” for purposes of
federal and state securities laws, including any statements of the
plans, strategies and objectives for future operations,
profitability, strategic value creation, coronavirus impacts, risk
profile and investment strategies, and any statements regarding
future economic conditions or performance, and the expected
financial and operational results of AECOM. Although we believe
that the expectations reflected in our forward-looking statements
are reasonable, actual results could differ materially from those
projected or assumed in any of our forward-looking statements.
Important factors that could cause our actual results, performance
and achievements, or industry results to differ materially from
estimates or projections contained in our forward-looking
statements include, but are not limited to, the following: our
business is cyclical and vulnerable to economic downturns and
client spending reductions; impacts caused by the coronavirus and
the related economic instability and market volatility, including
the reaction of governments to the coronavirus, including any
prolonged period of travel, commercial or other similar
restrictions, the delay in commencement, or temporary or permanent
halting of construction, infrastructure or other projects,
requirements that we remove our employees or personnel from the
field for their protection, and delays or reductions in planned
initiatives by our governmental or commercial clients or potential
clients; losses under fixed-price contracts; limited control over
operations run through our joint venture entities; liability for
misconduct by our employees or consultants; failure to comply with
laws or regulations applicable to our business; maintaining
adequate surety and financial capacity; high leverage and potential
inability to service our debt and guarantees; exposure to Brexit;
exposure to political and economic risks in different countries;
currency exchange rate fluctuations; retaining and recruiting key
technical and management personnel; legal claims; inadequate
insurance coverage; environmental law compliance and adequate
nuclear indemnification; unexpected adjustments and cancellations
related to our backlog; partners and third parties who may fail to
satisfy their legal obligations; AECOM Capital real estate
development projects; managing pension cost; cybersecurity issues,
IT outages and data privacy; risks associated with the benefits and
costs of the Management Services transaction, including the risk
that the expected benefits of the Management Services transaction
or any contingent purchase price will not be realized within the
expected time frame, in full or at all; the risk that costs of
restructuring transactions and other costs incurred in connection
with the Management Services transaction will exceed our estimates
or otherwise adversely affect our business or operations; as well
as other additional risks and factors that could cause actual
results to differ materially from our forward-looking statements
set forth in our reports filed with the Securities and Exchange
Commission. Any forward-looking statements are made as of the date
hereof. We do not intend, and undertake no obligation, to update
any forward-looking statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20200831005738/en/
Investor: Will Gabrielski Senior Vice President, Investor
Relations 213.593.8208 William.Gabrielski@aecom.com Media:
Brendan Ranson-Walsh Vice President, Global Communications &
Corporate Responsibility 213.996.2367
Brendan.Ranson-Walsh@aecom.com
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