Slaughter and May advised John Wood Group PLC on the extension of its principal bank debt facility to May 2023

Slaughter and May advised John Wood Group PLC (“Wood”) on the extension of its US$1.75bn revolving credit facility to May 2023.

The current US$1.75bn will step down to US$1.5bn in May 2022 and remain at that level until maturity in May 2023. Wood secured the extension at competitive market rates with covenants remaining unchanged at 3.5x pre-IFRS 16 EBITDA.