CB&I Upsizes Credit Facility

Posted on March 19th, 2026 | Filed under Press Releases

THE WOODLANDS, Texas, March 19, 2026 /PRNewswire/ — CB&I, the world’s leading designer and builder of storage facilities, tanks, and terminals, today announced the upsizing and closing of their senior secured credit facility from $295 million to $400 million. The facility, which matures on December 4, 2028, provides CB&I with financial flexibility and letter of credit capacity to support its long-term growth initiatives.

“The additional capacity significantly enhances our ability to pursue and deliver projects and solutions across the diverse markets we serve,” said Michael Caldwell, CB&I Senior Vice President and CFO. “In addition, it shows the commitment and support of our existing lending group. Equally important, we added three top-tier banking partners to the lending syndicate.”

The revolving credit facility remains undrawn at closing. CB&I enters the upsizing with no outstanding debt and a robust liquidity profile.

CB&I entered the facility with an existing lending syndicate that included Citibank, N.A. as Administrative Agent; and a Joint Lead Arranger, Truist Securities; a Joint Lead Arranger, National Bank of Canada; a Joint Lead Arranger, Webster Bank, N.A; and Texas Capital Bank. In addition, three new lenders have been added: Crédit Agricole Corporate and Investment Bank, a Joint Lead Arranger; Wells Fargo, N.A., a Joint Lead Arranger; and J.P. Morgan Chase Bank, N.A.

About CB&I 
CB&I is the world’s leading designer and builder of storage facilities, tanks, and terminals. With more than 60,000 structures completed throughout its 137 year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. 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.

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