UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form
Current Report
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| Item 1.01 | Entry into Material Definitive Agreement. |
On December 16, 2020, Jacobs Engineering Group Inc. (the “Company”) entered into a First Amendment to Second Amended and Restated Credit Agreement (the “Amendment”) among the Company, the designated borrowers specified therein, the lenders party thereto and Bank of America, N.A., as administrative agent. The Amendment amends the Second Amended and Restated Credit Agreement dated as of March 27, 2019 (the “Existing Revolving Facility” and as amended by the Amendment, the “Revolving Facility”).
The Amendment provides for, among other things, (a) administrative changes allowing a one-time “limited conditionality” draw under the Revolving Facility in connection with the consummation of the proposed acquisition by the Company, indirectly through a subsidiary of the Company, of a majority interest in PA Consulting Group Limited, a private limited company organized in England and Wales (the “Transaction”) and (b) an increase in the interest rate applicable margin to 1.625% per annum if the consolidated leverage ratio for the Company is equal to or greater than 3.00 to 1.00. The details of the Transaction have been previously disclosed in the Company’s Current Report on Form 8-K dated November 27, 2020.
The foregoing summary of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein by reference. The Second Amended and Restated Credit Agreement has been previously filed with, and is described in, the Company’s Current Report on Form 8-K dated March 27, 2019.
| Item 9.01. | Financial Statements and Exhibits |
Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: December 18, 2020
| JACOBS ENGINEERING GROUP INC. | ||
| By: | /s/ Kevin Berryman | |
| Name: | Kevin Berryman | |
| Title: | President and Chief Financial Officer | |