Jacobs Completes $600 Million Senior Notes Offering

22 August 2023
Jacobs Completes $600 Million Senior Notes Offering

Jacobs (NYSE:J) recently announced that it closed a public offering of $600 million aggregate principal amount of 6.350% senior unsecured notes due 2028.

The notes have been issued by Jacobs Engineering Group Inc. and unconditionally guaranteed by Jacobs. Interest on the notes will be payable semi-annually in arrears on Feb. 18 and Aug. 18 of each year, commencing on Feb. 18, 2024. The notes will mature on Aug. 18, 2028, unless repurchased or redeemed in accordance with their terms prior to such date. The net proceeds of the offering are being used to repay a portion of the amounts outstanding under Jacobs' revolving credit facility.

"This latest offering allows us to execute on our commitment to repay floating rate indebtedness and reduce volatility in our interest expense," said Jacobs CFO Claudia Jaramillo. "Also, our investment grade rating serves as a testament to the strength of our business, balance sheet, and cash flow generation."

BofA Securities, Inc., BNP Paribas Securities Corp., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.

to
TOP