KBR, Inc. Enters Material Definitive Agreement

Ticker: KBR · Form: 8-K · Filed: Aug 19, 2024

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation

Related Tickers: KBR

TL;DR

KBR just signed a big deal creating a financial obligation. Details inside.

AI Summary

On August 14, 2024, KBR, Inc. entered into a Material Definitive Agreement related to a direct financial obligation. The filing details the creation of this obligation under an off-balance sheet arrangement. Specific details regarding the nature of the agreement and the financial obligation are provided within the filing.

Why It Matters

This filing indicates KBR, Inc. has entered into a significant agreement that creates a financial obligation, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce financial risks and impact the company's balance sheet.

Key Players & Entities

FAQ

What type of Material Definitive Agreement did KBR, Inc. enter into?

The filing states KBR, Inc. entered into a Material Definitive Agreement that involves the creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

What is the date of the earliest event reported in this 8-K filing?

The date of the earliest event reported is August 14, 2024.

Under which section of the Securities Exchange Act is this 8-K filed?

This 8-K is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

What is KBR, Inc.'s principal executive office address?

KBR, Inc.'s principal executive office is located at 601 Jefferson Street, Suite 3400, Houston, Texas 77002.

What is the trading symbol for KBR, Inc.'s Common Stock?

The trading symbol for KBR, Inc.'s Common Stock is KBR.

Filing Stats: 825 words · 3 min read · ~3 pages · Grade level 9.9 · Accepted 2024-08-19 17:17:24

Key Financial Figures

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On August 14, 2024, KBR, Inc. (the "Company") entered into Amendment No. 13 (the "Amendment") to its existing Credit Agreement, dated as of April 25, 2018 (as amended by Amendment No. 1, dated as of November 12, 2018, Amendment No. 2, dated as of February 7, 2020, Amendment No. 3, dated as of July 2, 2020, Amendment No. 4, dated as of September 14, 2020, Amendment No. 5, dated as of November 18, 2021, Amendment No. 6, dated as of May 17, 2022, Amendment No. 7, dated as of December 30, 2022, Amendment No. 8, dated as of February 6, 2023, Amendment No. 9, dated as of June 6, 2023, Amendment No. 10, dated as of July 26, 2023, Amendment No. 11, dated as of January 19, 2024, and Amendment No. 12, dated as of February 7, 2024, the "Existing Credit Agreement," and as further amended by the Amendment, the "Credit Agreement"), with Bank of America, N.A., as administrative agent, the lenders party thereto and each of the subsidiaries of the Company party thereto. Pursuant to the Amendment, the Existing Credit Agreement was amended to, among other things: (1) provide for an incremental delayed draw term A-2 loan in an aggregate principal amount of $550 million, which will be available for up to 180 days to fund the Company's pending acquisition of LinQuest Corporation and will mature on August 13, 2027, (2) refinance the aggregate principal amount of $997.5 million outstanding under the Company's existing term B loan facility with a new term B loan facility in the same aggregate principal amount, with a reduced applicable interest rate per annum of term SOFR plus 2.00% (or base rate plus 1.00%) and the same maturity date of January 19, 2031, and (3) effect additional modifications to the terms and provisions of the Existing Credit Agreement, as further set forth in the Amendment. The Credit Agreement contains representations and warranties, affirmative and negative covenants, including financial covenants requiring th

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 Amendment No. 13 to the Credit Agreement, dated as of August 14, 2024, with Bank of America, N.A., as administrative agent, the lenders party thereto, the Company and each of the subsidiaries of the Company party thereto. 104 Cover Page Interactive Data file (formatted as Inline XBRL) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KBR, INC. August 19, 2024 /s/ Sonia Galindo Sonia Galindo Executive Vice President, General Counsel & Corporate Secretary

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