Erickson Air-Crane announces new $100m revolving credit facility

Erickson Air-Crane, 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, has entered into a new $100m, 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.