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Erickson Air-Crane Increases ABL Facility to $125MM With Wells Fargo, Others

June 18, 2013, 07:09 AM
Filed Under: Aviation

Erickson Air-Crane Incorporated, a leading global provider of aviation services to a diverse mix of commercial and government customers and the vertical manufacturer and operator of the powerful, heavy-lift helicopter, the Erickson S-64 Aircrane, announced today that it had successfully amended its five-year revolving credit facility to increase the total availability to $125 million.

The facility, led by Wells Fargo Bank, N.A. and including Bank of the West, Deutsche Bank Trust Company Americas, and HSBC Bank USA NA, continues to bear an interest rate of 325-450 basis points over the London Interbank Offered Rate (“LIBOR”), depending on the company’s senior leverage ratio.

Udo Rieder, chief executive officer of Erickson Air-Crane, commented, “We are pleased to have received this amendment to our revolver, which further enhances our capital structure and gives us increased working capital flexibility to capture the broadening opportunities in diverse end-markets and geographies as we pursue and deliver on our continued growth strategy.“

Erickson Air-Crane Incorporated is a leading global provider of aviation services to a diverse mix of commercial and government customers. The company currently operates a diverse fleet of 85 rotary-wing and fixed wing aircraft, including a fleet of 20 heavy-lift S-64 Aircranes. This fleet supports a wide and worldwide variety of government and commercial customers, across a broad range of aerial services, including critical supply and logistics for deployed military forces, humanitarian relief, firefighting, timber harvesting, infrastructure construction, and crewing.

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