Erickson Air-Crane Incorporated (NASDAQ:EAC), (“Erickson” or “the Company”), 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 entered into a new $100 million, five-year revolving credit facility with a group of financial institutions led by Wells Fargo Bank, N.A. and including Bank of the West, Deutsche Bank Trust Company Americas, and HSBC Bank USA NA. The interest rate under the credit agreement is 325-450 basis points over the London Interbank Offered Rate (“LIBOR”) depending on the Company’s senior leverage ratio. The proceeds under the credit agreement are expected to be used for general corporate purposes.
About Erickson Air-Crane Incorporated
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 87 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. The Company also maintains a vertical manufacturing capability for the S-64 Aircrane, related components, and other aftermarket support and maintenance, repair, and overhaul services for the Aircrane and other aircraft. Founded in 1971, Erickson Air-Crane is headquartered in Portland, Oregon and maintains facilities and operations in North America, South America, the Middle East, Africa and Asia-Pacific.
- Retired Bell employees lose $500 Christmas bonus
- UTair Selects Swiss AviationSoftware for MRO solutions
- US Dept Homeland Security selling four MD500Es
- FAA Obstructive Sleep Apnea Issues
- R22 production continues slowly – but who is buying?
- Eurocopter launches law enforcement EC145T2 helicopter with an order for six
- Royal Thai Army add R44 – with training from Heliluck and Mornington Sanford Aviation
- UK AAIB Bulletin – December 2013
- Hawker Pacific Secures Australia’s First Bell 407GX Sale
- 12-Dec-13 Sikorsky S76 Bintulu, Malaysia
- Bristow wins five-year BP contract for two S92s
- Bell to build the SLS in Louisiana
- AirMed adds new base with EC145 in Tooele, Utah
- Royal Australian Navy accepts first two MH-60Rs
- Metro Aviation to partner with Avstar Media for CBT
- Apache M-TADS/PNVS Team Receives Second Secretary of Defense PBL Award
- 11-Dec-13 Robinson R22 Mt Percy, New Zealand (1F)
- New CEO at French military contractor DCI
- Rega and BOHAG open new base at Zweissimmen
- Scotts Bell 47 ensures long term supply of Lycoming VO-435 pistons