CB&I closes upsized $625 million senior secured credit facility

By Atlas Watchline Staff · Corporate · August 13, 2026

CB&I said it closed an upsized senior secured credit facility that adds a new term loan and lifts total capacity to $625 million.

CB&I said on Aug. 13, 2026, that it closed an upsized senior secured credit facility totaling $625 million, up from $400 million.

The company said the financing gives it additional capacity after using cash in connection with its acquisition of Asset Solutions, formerly part of the Petrofac Group. CB&I said the larger facility is also intended to improve financial flexibility, support future investments and provide more letter of credit capacity for long-term growth initiatives.

The expanded package includes a $500 million revolving credit facility and a new $125 million syndicated Term Loan A. CB&I said the facility matures on Dec. 4, 2028, and that the Term Loan A carries the same terms and maturity as the revolving credit facility.

CB&I said the revolving credit facility was undrawn at closing, and the company entered the upsizing with no funded debt outstanding and a strong liquidity position. The company also said Citibank, N.A. served as administrative agent for the transaction.

In a statement, Senior Vice President and Chief Financial Officer Michael Caldwell said the company’s lending partners showed strong support for the expansion. He said the transaction enhances CB&I’s capacity to pursue and execute projects while maintaining financial flexibility.

CB&I said the syndication was led by Citibank and included new lenders Goldman Sachs Bank USA and Zions Bancorporation, N.A. dba Amegy Bank. Existing lenders named by the company included Truist Securities, National Bank of Canada, Webster Bank, N.A., Texas Capital Bank, Crédit Agricole CIB, Wells Fargo, N.A. and J.P. Morgan, N.A.

CB&I also said it is owned by a consortium of financial investors led by Mason Capital Management LLC.

Sources

• PR Newswire: CB&I announces successful upsizing and closing of $625 million senior secured credit facility

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