#USA #The Woodlands #CB&I #Asset Solutions #Goldman Sachs Bank

CB&I Strengthens Financial Position with Upsized $625 Million Credit Facility

CB&I, recognized as a top provider of integrated storage and asset-management solutions, has announced a significant enhancement to its financial flexibility by successfully upsizing its senior secured credit facility from $400 million to an impressive $625 million. This strategic move is poised to bolster the company’s capacity for future investments while supporting its ongoing operational needs.

The new credit facility is structured to include a $500 million revolving credit component and a freshly syndicated $125 million Term Loan A. Both components carry the same terms and maturity, which is set for December 4, 2028. This latest financial augmentation reflects CB&I’s commitment to strategic growth as it navigates the complexities of the market.

Michael Caldwell, Senior Vice President and Chief Financial Officer of CB&I, expressed enthusiasm regarding the expanded facility, noting, "Our existing lending partners demonstrated strong support for the expansion, and the syndication process, led by Citibank, attracted several highly respected financial institutions to bolster our lending group. This level of interest exemplifies a significant endorsement of CB&I’s operational performance and long-term growth strategies."

The capital acquired through this upsizing not only replenishes cash utilized during the acquisition of Asset Solutions, formerly part of the Petrofac Group, but it also enhances the company's capacity to issue letters of credit, which are crucial for sustaining long-term growth initiatives. The expanding lender group now comprises notable partners such as Goldman Sachs Bank USA and Zion Bancorporation, further diversifying CB&I’s banking relationships and contributing to its financial strength.

As the firm enters this new chapter with an undrawn revolving credit facility and no funded debt outstanding, it stands in a robust liquidity position, ready to capitalize on future growth opportunities. The expansion is expected to aid in the execution of projects across a range of markets, facilitating the delivery of solutions that meet client needs effectively.

CB&I’s mission is underscored by its dedication to providing integrated storage and asset-management solutions that ensure customers operate efficiently and safely. With two global business units—Storage Solutions and Asset Solutions—the company combines technical expertise with operational capabilities aimed at maximizing asset value and performance.

As CBI looks ahead, the focus remains on executing high-value projects while navigating the risks and uncertainties inherent in the market landscape. The recent expansion serves as a vital component in cementing the company’s position within the industry, enhancing its ability to serve clients reliably and effectively.

In conclusion, the successful upsizing of CB&I’s credit facility marks a pivotal moment in the company’s trajectory towards sustainable growth and excellence in service delivery. As the global demand for integrated storage and management solutions continues to rise, CB&I is strategically positioned to lead the way, leveraging its financial strength and operational capabilities to drive success in an increasingly competitive landscape.