Jacobs (NYSE:J) today 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.
At Jacobs, we’re challenging today to reinvent tomorrow by solving the world’s most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $15 billion in annual revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.
