CB&I Announces Successful Upsizing and Closing of $625 Million Senior Secured Credit Facility

THE WOODLANDS, Texas, Aug. 13, 2026 /PRNewswire/ -- CB&I, a leading provider of integrated storage and asset‑management solutions, today announced the successful upsizing and closing of its senior secured credit facility from $400 million to $625 million.

The expanded facility consists of a $500 million revolving credit facility and a new $125 million syndicated Term Loan A, which carries the same terms and maturity as the revolving credit facility. The facility matures on December 4, 2028.

The additional capacity replenishes cash utilized in connection with the acquisition of Asset Solutions (previously part of the Petrofac Group) and enhances CB&I's financial flexibility to support future investments, while providing additional letter of credit capacity to support the Company's long-term growth initiatives.

"Our existing lending partners demonstrated strong support for the expansion, and the syndication process, led by Citibank, attracted two highly respected financial institutions, Goldman Sachs Bank USA and Zion Bancorporation, N.A dba Amegy Bank, to the lending group," said Michael Caldwell, Senior Vice President and Chief Financial Officer of CB&I. "This strong level of interest reflects a meaningful endorsement of CB&I's operating performance, strategic direction, and long-term growth prospects. It also significantly enhances our capacity to pursue and successfully execute projects and solutions across the diverse markets we serve while maintaining substantial financial flexibility."

The revolving credit facility remains undrawn at closing, and CB&I enters the upsizing with no funded debt outstanding and a strong liquidity position.

Citibank, N.A., served as Administrative Agent for the transaction. The expanded lender group includes existing partners Truist Securities, National Bank of Canada, Webster Bank, N.A., Texas Capital Bank, Crédit Agricole CIB, Wells Fargo, N.A., J.P. Morgan, N.A., together with new participants Goldman Sachs Bank USA and Zions Bancorporation, N.A. dba Amegy Bank. The addition of Goldman Sachs Bank USA and Zions Bancorporation, N.A. dba Amegy Bank, further diversifies and strengthens CB&I's banking relationships while supporting the Company's continued growth.

About CB&I
CB&I delivers integrated storage and asset‑management solutions that help customers operate safely, reliably, and efficiently across the lifecycle of their facilities. Through our two global business units—Storage Solutions, the world leader in tanks, terminals, and storage systems, and Asset Solutions, a leading provider of operations, management, wells and decommissioning services—we combine technical excellence with execution capability to extend asset life, optimize performance, and maximize value. CB&I is owned by a consortium of financial investors led by Mason Capital Management LLC. To learn more, visit www.cbi.com.

Forward Looking Statements
CB&I cautions that statements in this communication that are forward-looking, and provide other than historical information, involve risks, contingencies, and uncertainties. These forward-looking statements include, among other things, statements about the expected timing and execution of projects, and statements that describe our business strategy, outlook, objectives, plans, intentions, or goals. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are based on various underlying assumptions and are subject to numerous risks, contingencies, and uncertainties, many of which are beyond our control, including, among others: adverse changes in the markets in which we operate or in credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope, or timing of contracts, contract cancellations, change orders, and other modifications or actions by our customers and other business counterparties; changes in industry norms or codes or applicable laws; actions by lenders, other creditors, customers, and other business counterparties of CB&I; and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materializes, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of CB&I's management as of the date hereof. Except to the extent required by applicable law, CB&I undertakes no obligation to update or revise any forward-looking statement.