KBR, INC. (NYSE:KBR) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
| Entry into a Material Definitive Agreement. |
On December21, 2016, KBR, Inc. (KBR) entered into the First
Amendment (the Amendment) to its Amended and Restated Revolving
Credit Agreement dated as of September25, 2015 (the Credit
Agreement), among KBR, the several banks and other institutions
parties to the Credit Agreement, Citibank, NA., as administrative
agent, and Bank of America, N.A., ING Bank, N.V., Dublin Branch,
BNP Paribas, and The Bank of Nova Scotia as Syndication Agents.
The Amendment, among other things, amends the financial covenant
requiring maintenance of a certain ratio of consolidated debt to
consolidated EBITDA to eliminate the impact, for certain periods
and subject to certain dollar limitations, of previously recorded
project losses attributable to (i)an EPC project for an electric
power-generating facility within KBRs Non-strategic business
segment, and (ii)an EPC ammonia project in KBRs Engineering
Construction business segment. The Amendment also amends the
maximum ratio of consolidated debt to consolidated EBITDA to 3.25
to 1 effective for periods after December31, 2017.
The description of
the Amendment contained herein does not purport to be complete
and is qualified in its entirety by reference to the Amendment, a
copy of which is attached to this Current Report on Form 8-K as
Exhibit 10.1 and is incorporated herein by reference.
| ITEM9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| 10.1 |
First Amendment to Amended and Restated Credit Agreement dated as of December21, 2016 to the Amended and Restated Revolving Credit Agreement dated as of September25, 2015 (the Credit Agreement) among KBR, Inc., the several banks and other institutions parties to the Credit Agreement, Citibank, NA., as administrative agent, and Bank of America, N.A., ING Bank, N.V., Dublin Branch, BNP Paribas, and The Bank of Nova Scotia as Syndication Agents |
About KBR, INC. (NYSE:KBR)
KBR, Inc. (KBR) is an engineering, procurement, construction and services company. The Company supports global hydrocarbons and international Government services market sectors. It operates through three business segments: Technology & Consulting (T&C), Engineering & Construction (E&C), and Government Services (GS). Its T&C segment combines KBR technologies, knowledge-based services and its three specialty consulting brands, Granherne, Energo and GVA, under a customer-facing global business. Its E&C segment offers project delivery solutions from conceptual planning, through FEED and execution planning, to full EPC delivery and ongoing asset services, such as maintenance and turnarounds. Its GS segment focuses on service contracts with annuity streams particularly for the United Kingdom, Australian and the United States Governments. It provides services to a customer base, including international and national oil and gas companies and petrochemical producers. KBR, INC. (NYSE:KBR) Recent Trading Information
KBR, INC. (NYSE:KBR) closed its last trading session down -0.03 at 17.20 with 706,914 shares trading hands.
