WILLBROS GROUP, INC. (NYSE:WG) Files An 8-K Entry into a Material Definitive Agreement

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WILLBROS GROUP, INC. (NYSE:WG) Files An 8-K Entry into a Material Definitive Agreement

Item1.01. Entry into a Material Definitive Agreement.

On June16, 2017, Willbros Group, Inc. (the Company) amended the
Loan, Security and Guaranty Agreement dated as of August7, 2013
(as amended by the First Amendment thereto dated as of August30,
2013, the Second Amendment thereto dated as of April1, 2014, the
Third Amendment thereto dated as of December15, 2014 and the
Fourth Amendment thereto dated as of September28, 2015, the ABL
Credit Agreement) to the Fifth Amendment to Loan, Security and
Guaranty Agreement dated as of June16, 2017 (the Fifth Amendment)
by and among the Company, certain subsidiaries of the Company
named therein, as U.S. Borrowers, Willbros Construction Services
(Canada) L.P., as Canadian Borrower, the other persons party
thereto from time to time as guarantors, the financial
institutions party thereto as lenders, and Bank of America, N.A.,
in its capacity as collateral agent and administrative agent.

The total amount of availability under the ABL Credit Agreement
is $100.0 million and will continue at this level under the Fifth
Amendment. The aggregate amount of commitments under the ABL
Credit Agreement was previously comprised of $80.0 million for
the U.S. facility (the U.S. Facility) and $20.0 million for the
Canadian facility (the Canadian Facility). to the Fifth
Amendment, the aggregate amount of commitments will be comprised
of $90.0 million for the U.S. Facility and $10.0 million for the
Canadian Facility.

A copy of the Fifth Amendment is attached to this Current Report
on Form 8-K as Exhibit10 and is incorporated by reference into
this Item1.01 as though fully set forth herein. The foregoing
summary description of the Fifth Amendment and the transactions
contemplated therein is not intended to be complete and is
qualified in its entirety by the complete text of the Fifth
Amendment.

Item9.01. Financial Statements and Exhibits.


(d)
Exhibits.

The following exhibit is filed herewith.

Fifth Amendment to Loan, Security and Guaranty Agreement
dated as of June16, 2017, by and among the Company, certain
subsidiaries of the Company named therein, as U.S. Borrowers,
Willbros Construction Services (Canada) L.P., as Canadian
Borrower, the other persons party thereto from time to time
as guarantors, the financial institutions party thereto as
lenders, and Bank of America, N.A., in its capacity as
collateral agent and administrative agent.



Willbros Group, Inc.NEW Exhibit
EX-10 2 d404993dex10.htm EX-10 EX-10 Exhibit 10 FIFTH AMENDMENT TO LOAN,…
To view the full exhibit click here
About WILLBROS GROUP, INC. (NYSE:WG)

Willbros Group, Inc. (Willbros) is a specialty energy infrastructure contractor serving the oil, gas, refining, petrochemical and power industries. The Company’s offerings include construction, maintenance and facilities development services. The Company operates through three segments: Oil & Gas, Utility T&D and Canada. The Company provides services through operating subsidiaries. The Company’s segments operated primarily in the United States and Canada. It provides construction, project management, maintenance and lifecycle extension services to the midstream markets. It provides a range of services in electric and natural gas transmission and distribution, including comprehensive engineering, procurement, maintenance and construction, repair and restoration of utility infrastructure. Its projects and specialty services include a range of construction project work, including both above and below ground piping from small and midinch projects to large diameter mainline spreads.

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