HEICO Corp. (HEI) Enters New $670M Unsecured Facility
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HEICO Corporation (NYSE: HEI-A)(NYSE: HEI) has entered into a new $670 million senior unsecured revolving credit facility with a banking syndicate led by SunTrust Bank, Wells Fargo Bank and Bank of America.
The revolving credit facility may be increased to $800 million under certain circumstances and replaces the Company's current $300 million revolving credit facility. The borrowings under the amended credit facility bear interest at spreads over LIBOR rates ranging from 75 to 225 basis points based on leverage measurements and mature in December 2016. Under certain circumstances, the maturity may be extended for two one-year periods.
The revolving credit facility may be increased to $800 million under certain circumstances and replaces the Company's current $300 million revolving credit facility. The borrowings under the amended credit facility bear interest at spreads over LIBOR rates ranging from 75 to 225 basis points based on leverage measurements and mature in December 2016. Under certain circumstances, the maturity may be extended for two one-year periods.
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