Press Release Aug 18, 2023

Jacobs Completes $600 Million Senior Notes Offering

DALLAS, Aug. 18, 2023 /PRNewswire/ -- Jacobs (NYSE:J) today announced that it closed a public offering of $600 million aggregate principal amount of 6.350% senior unsecured notes due 2028.

The notes have been issued by Jacobs Engineering Group Inc. and unconditionally guaranteed by Jacobs. Interest on the notes will be payable semi-annually in arrears on Feb. 18 and Aug. 18 of each year, commencing on Feb. 18, 2024. The notes will mature on Aug. 18, 2028, unless repurchased or redeemed in accordance with their terms prior to such date. The net proceeds of the offering are being used to repay a portion of the amounts outstanding under Jacobs' revolving credit facility.

"This latest offering allows us to execute on our commitment to repay floating rate indebtedness and reduce volatility in our interest expense," said Jacobs CFO Claudia Jaramillo. "Also, our investment grade rating serves as a testament to the strength of our business, balance sheet, and cash flow generation."

BofA Securities, Inc., BNP Paribas Securities Corp., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC acted as joint book-running managers 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. An effective shelf registration statement, under which the notes were issued, was filed previously with the U.S. Securities and Exchange Commission. The offering was made by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained by contacting BNP Paribas Securities Corp. at 1-800- 854-5674, BofA Securities, Inc. at 1-800-294-1322, J.P. Morgan Securities LLC at 1-800-645-3751 or Wells Fargo Securities, LLC at 1-800-645-3751. An electronic copy may also be obtained at

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 and connect with Jacobs on FacebookInstagramLinkedIn and Twitter.

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify forward-looking statements. We base these forward-looking statements on management's current estimates and expectations, as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements including, but not limited to, uncertainties as to the final structure and timing of the separation of our CMS business, including with respect to the scope of the businesses to be separated or retained by us, the possibility that closing conditions for a separation transaction may not be satisfied or waived, the impact of the separation on our and CMS's businesses, and a possible decrease in the trading price of our or their shares, if the separation is completed, the possibility that the separation may not qualify for the expected tax treatment, the risk that any consents or approvals required in connection with the separation may not be received, the risk that the separation may be more difficult, time-consuming or costly than expected, and the possibility that we may not retain key employees while the separation is pending or after it is completed, as well as factors related to our business, including the timing of the award of projects and funding, and potential changes to the amounts provided for, under the Infrastructure Investment and Jobs Act, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the impact of a possible recession or economic downturn on our results, prospects and opportunities, geopolitical events and conflicts, and the impact of the COVID-19 pandemic or future pandemics, including the related reaction of governments on global and regional market conditions, among others. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 – Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recently filed Annual Report on Form 10-K, and  Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations; Item 1 - Legal Proceedings; and Item 1A – Risk Factors in our most recently filed Quarterly Report on Form 10-Q, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

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