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BNP Paribas, Others Extend, Expand Fluor’s Credit Facility Adding Links to ESG Performance

February 22, 2022, 07:46 AM
Filed Under: Technology

Fluor Corporation 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.

This credit facility was entered into with a syndicate of lenders arranged by BNP Paribas Securities, BofA Securities, Citibank, and Wells Fargo Securities as joint lead arrangers.

“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.”

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