Jacobs Secures $1.5 Billion Revolver and $1.2 Billion Term Loans for PA Consulting Deal
Jacobs entered a $1.5 billion revolving credit facility and two term loan facilities totaling $1.2 billion, all dated March 16, 2026. The company said it will use the borrowings, along with cash on hand if needed, to finance the cash purchase of the remaining shares of PA Consulting Group Limited, and the filing says the new facilities replace the existing revolving credit agreement.
Key points
- Revolving facility of $1.5 billion matures March 16, 2031; JEGI borrowed $545 million on March 16 to repay the existing revolver, and the company borrowed about $56 million for the PA Consulting acquisition.
- Term loans of $700 million (maturing March 16, 2029) and $500 million (maturing March 16, 2031) were borrowed on March 17, 2026.
- Both agreements require a Consolidated Leverage Ratio of 3.50:1.00 or less, temporarily rising to 4.00:1.00 after certain material acquisitions closes.
- Interest rates are based on SOFR and other reference rates plus a margin tied to the company's debt rating or leverage ratio.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 7:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 17, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.