CB&I Expands Credit Facility to $625 Million

The new financial structure comprises a $500 million revolving credit facility and a $125 million syndicated Term Loan A. According to the company, these funds are earmarked to replenish cash reserves used during the Asset Solutions purchase and to provide additional letter of credit capacity for long-term growth initiatives. CB&I enters this expanded arrangement with no funded debt outstanding, maintaining a strong liquidity position as the revolving portion remains undrawn.

Citibank, N.A. served as the administrative agent for the transaction, which saw the addition of Goldman Sachs Bank USA and Zions Bancorporation, N.A. dba Amegy Bank to the lending syndicate. Chief Financial Officer Michael Caldwell described the successful syndication as a meaningful endorsement of the company’s operating performance and strategic direction. The expanded lender group also includes Truist Securities, National Bank of Canada, Webster Bank, N.A., Texas Capital Bank, Crédit Agricole CIB, Wells Fargo, N.A., and J.P. Morgan, N.A.