Jacobs Completes Issuance of $500 Million in Sustainability-Linked Bonds
Jacobs (NYSE:J) today announced that it closed an inaugural offering of $500 million of senior unsecured notes due 2033 under its newly published Sustainability-Linked Bond Framework. The Framework was developed as a crucial element of Jacobs’ PlanBeyond 2.0℠ sustainable business strategy launched in the summer of 2021 and is a key milestone in further incorporating sustainability into the company’s financing strategy.
The interest rates payable on the bonds are tied to Jacobs’ commitment to increase gender diversity in leadership positions, and to reduce greenhouse gas emissions, each as described in the Framework. Aligned with its purpose to create a more connected, sustainable world, Jacobs’ environmental, social and governance (ESG) efforts are core to the company’s values and culture and this offering further establishes Jacobs as a sustainability leader.
Jacobs CFO Kevin Berryman said, “As part of our PlanBeyond 2.0 business strategy, we developed six Sustainable Business Objectives to sit at the heart of our company strategy, and this offering, which follows the refinancing of our credit facilities as sustainability-linked loans, was the next step in our journey. This new Framework demonstrates our commitment to incorporating inclusion, innovation and inspiration into the very fabric of the company, defining our aspirations for how we as an organization and as individuals can each play a part in creating a sustainable future for all.”
Jacobs published the Sustainability-Linked Bond Framework, and commissioned S&P Global Ratings to issue a Second Party Opinion on the Framework’s alignment to the Sustainability-Linked Bond Principles. The bonds have been issued by Jacobs Engineering Group Inc. and unconditionally guaranteed by Jacobs. The net proceeds are being used to repay a portion of the amounts outstanding under Jacobs’ revolving credit facility.
BofA Securities, Inc., Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC, BNP Paribas Securities Corp. and TD Securities (USA) LLC acted as joint book-running managers for the offering and BofA Securities, Inc. also acted as Sustainability Structuring Agent for the offering.
This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any of the notes or any other securities, nor will there be any offer, solicitation or sale of the senior notes or any other securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained by calling BofA Securities, Inc. at 1-800-294-1322 (toll-free), Wells Fargo Securities, LLC toll free at (800)-645-3751 or Morgan Stanley & Co. LLC toll-free at (866) 718-1649. An electronic copy may also be obtained at www.sec.gov.
At Jacobs, we’re challenging today to reinvent tomorrow by solving the world’s most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $15 billion in annual revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.
