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Hill refinances its debt

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Hill International, a Marlton-based construction risk manager, announced Monday that it had refinanced its existing senior debt facilities.

Hill said in a news release that Societe Generale’s U.S. affiliate SG Americas Securities, LLC, will provide $165 million in facilities, including a six-year term loan of $120 million and five-year revolving credit of $45 million.

The $45 million facility includes a $30 million U.S. dollar-denominated one, and a $15 million Euro-denominated one made available to the Hill subsidiary Hill International N.V.

In addition, Hill said it would conduct an offering of 8 million shares of common stock, with KeyBanc Capital Markets Inc. serving as book-running manager.

Hill will use the new debt facilities and the stock offering to pay off its existing senior credit facility and an existing second lien term loan.


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