FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


SunTrust, BofA, Wells Lead HEICO Revolver Increase to $1 Billion

November 26, 2013, 11:10 AM
Filed Under: Technology

HEICO Corporation increased its $670 million revolving credit facility to an aggregate potential future capacity of $1 billion and that it also extended the facility by an additional year until December 2018.  Under the amendment, $800 million of the facility is now fully committed for funding and an additional $200 million has been committed subject to future consent of the lenders.

Originally entered into in 2011, the facility previously allowed borrowings of up to $670 million and was set to expire in 2016.  Based on HEICO's credit characteristics, the bank group has now twice extended the Facility's expiration to allow for expiration in five years from now.  Further, certain other amendments were made to provide additional financial flexibility.

The facility is lead-managed by SunTrust Bank, Bank of America, N.A. and Wells Fargo Bank, National Association and is utilized for acquisitions and other corporate needs.  Other banks participating are Branch Banking and Trust Company, PNC Bank National Association, US Bank National Association, RBS Citizens N.A., Fifth Third Bank, JP Morgan Chase Bank, Synovus Bank, The Northern Trust Company, Mercantil Commercebank, N.A. and Florida Community Bank N.A. 

HEICO Corporation is engaged primarily in certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, FL-based Flight Support Group and its Miami, FL-based Electronic Technologies Group.  HEICO's customers include a majority of the world's airlines and overhaul shops as well as numerous defense and space contractors and military agencies worldwide in addition to medical, telecommunications and electronics equipment manufacturers.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.