Fluor Extends and Expands Credit Facility and Links Borrowing Costs to Future Environment, Social and Governance Performance Indicators
- Credit facilities increased from $1.65 billion to $1.8 billion for a term of three years
- Company intends to set and achieve ESG performance goals to further reduce financing costs
IRVING, Texas–(BUSINESS WIRE)–Fluor Corporation (NYSE: FLR) announced today that it has increased its credit facility to $1.8 billion and extended the maturity to February 2025. This facility includes an ESG-linked pricing option, which provides the opportunity to further lower the Company’s overall borrowing costs. These key performance indicators will be based on a future agreement with BNP Paribas and BofA Securities, Inc. as sustainability coordinators.
“One of the key objectives Fluor committed to on strategy day in January 2021 was to re-establish a sound financial footing for the company going forward,” said Joe Brennan, Fluor’s chief financial officer. “This long-term renewal and expansion of Fluor’s credit facilities, along with the ability to reduce our financing costs by way of achieving certain ESG goals, demonstrates the company’s success in accomplishing this strategic objective and illustrates the confidence our banks have in Fluor’s future.”
This credit facility was entered into with a syndicate of lenders arranged by BNP Paribas Securities Corp., BofA Securities Inc., Citibank, N.A., and Wells Fargo Securities, LLC as joint lead arrangers.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 44,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $14.2 billion in 2020 and is ranked 196 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has been providing engineering, procurement and construction services for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.
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