KBR in Amendment to Credit Agreement

February 6, 2023

Cleary Gottlieb represented KBR Inc. (KBR) in an amendment of its existing credit agreement to replace the LIBOR-based reference interest rate option under the Term A and revolving credit facilities, with a reference interest rate option based on Term SOFR.

The amendment also implements the KBR’s fiscal year change from a calendar year ending on December 31 to a 52-53 week year ending on the Friday closest to December 31. Bank of America N.A. serves as administrative agent for the credit facilities.

The transaction closed on February 6, 2023.

KBR is a NYSE-listed company that delivers science, technology, and engineering solutions to governments and companies around the world. KBR is headquartered in Houston, Texas, and employs approximately 28,000 people globally.