The new credit facility provides AECOM with $500 million of committed liquidity through June 2028. Monitor future drawdowns and the quarterly leverage ratio compliance update (first test for fiscal Q2 ending June 30, 2026). The facility's pricing grid incentivizes deleveraging below 1.75x, so any reduction in leverage would modestly lower interest costs.
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Executive Summary
AECOM entered into a new $500 million revolving credit facility on June 10, 2026, replacing its prior credit agreement. The facility matures June 9, 2028, bears interest at SOFR plus 1.125%-2% or base rate plus 0.125%-1%, and is secured by substantially all assets of the borrowers and guarantors. No borrowings were outstanding at closing, and the key financial covenant is a maximum consolidated leverage ratio of 4.00x.
Key Facts
- New $500 million revolving credit facility entered into on June 10, 2026
- Maturity date of June 9, 2028
- No borrowings outstanding as of closing
- Interest rate: SOFR + 1.125%-2% or base rate + 0.125%-1%, based on leverage ratio
- Unused commitment fee: 0.15%-0.30%
- Financial covenant: consolidated leverage ratio ≤ 4.00x (with step-up to 4.50x for acquisitions)
- Secured by substantially all assets of borrowers and subsidiary guarantors
- Replaces existing credit agreement syndicated facility (original date 2014)
- Lenders include Bank of America, JPMorgan, BNP Paribas, Truist, Credit Agricole, PNC, HSBC
Financial Impact
AECOM established a $500 million revolving credit facility, fully undrawn at closing. The facility provides liquidity for general corporate purposes and replaces the prior credit agreement. Interest and fee margins are tied to the company's consolidated leverage ratio.
Risk Factors
- If AECOM's leverage ratio exceeds 4.00x, the financial covenant would be breached, triggering potential acceleration
- The secured nature of the facility reduces unsecured creditors' asset coverage
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-072942 |
| Document: tm2617534d1_8k.htm | 0001104659-26-072942 |
| Document: 0001104659-26-072942-index-headers.html | 0001104659-26-072942 |
| Document: 0001104659-26-072942-index.html | 0001104659-26-072942 |
| Document: 0001104659-26-072942.txt | 0001104659-26-072942 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 7w ago | Press Release | $63.11 $64.60 | ▼ −2.36% | ▼ −4.35% | $59.66 (+5.47%) |
Aug 10, 2026 7w ago | 8-K | $67.05 $64.02 | ▲ +4.52% | ▲ +3.46% | $59.66 (+11.02%) |
Aug 7, 2026 8w ago | Institutional Cluster | $75.81 $66.58 | ▲ +12.17% | ▲ +11.77% | $59.66 (+21.30%) |
Jun 30, 2026 13w ago | Court Ruling | $69.80 $70.96 | ▲ +1.66% | ▲ +2.69% | $59.66 (−14.53%) |
Jun 11, 2026 16w ago | 8-K | $70.12 $68.25 | ▼ −2.67% | ▼ −4.45% | $59.66 (−14.92%) |
Jun 3, 2026 17w ago | 8-K | $72.40 $66.86 | ▼ −7.65% | ▼ −6.52% | $59.66 (−17.59%) |
May 11, 2026 20w ago | 8-K | $69.86 $68.58 | ▼ −1.83% | ▼ −0.10% | $59.66 (−14.60%) |
Mar 5, 2026 30w ago | 8-K | $93.69 $84.71 | ▼ −9.59% | ▼ −7.54% | $59.66 (−36.32%) |
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