Shearman & Sterling advised Citibank, N.A., as Administrative Agent, on an amendment to Jabil Inc.’s existing credit facilities, extending the maturity of its $2 billion five-year revolving credit facility and its $700 million three-year revolving credit facility, and increasing the size of its three-year revolving credit facility to $1.2 billion. The amendment introduces sustainability targets to the credit facilities, which are used to finance general corporate purposes. Sustainability targets are tied to greenhouse gas emissions, the company’s Responsible Business Alliance Validated Assetment Program score, and its EHS index score. The facility fee may be increased or reduced by up to 1bp depending on the achievement of targets, and the margin over LIBOR may be increased or decreased by up to 4bp.
Jabil Inc. provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic circuit design services, such as application-specific integrated circuit design, firmware development and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA). It also specializes in the three-dimensional mechanical design comprising the analysis of electronic, electro-mechanical, and optical assemblies, as well as offers various industrial design, advance mechanism development, and tooling management services.