Banc of America, Others Provide New Facility to WS Atkins
WS Atkins announced that it entered into a new five-year revolving credit facility that matures in October 2018.
The new arrangement provides the group with an enlarged committed facility of $319 million (£200 million), and replaces the group’s existing $239 million (£150 million) RCF and $47 million (£30 million) bilateral facility.
The new facility includes four existing lenders: Banc of America Securities Limited, Barclays Bank, HSBC Bank and The Royal Bank of Scotland, together with three new banks: The National Bank of Abu Dhabi, Abbey National Treasury Services and United Overseas Bank Limited.
The larger facility provides the group with increased and longer-term financial capacity to support its strategy.
Heath Drewett, group finance director, commented, “We are very pleased to have secured this new, longer-term facility which provides the group with financing to support its strategy, and are particularly delighted with the opportunity to introduce a number of new lenders to the group. This diverse, wider banking group more closely reflects the international nature of our group.”
WS Atkins, a worldwide design, engineering and project management consultancy with more than 75 offices throughout North America.