HEICO Announces Increase In Revolving Credit Facility - Quick Facts

(RTTNews) - HEICO Corp. (HEI.A, HEI) announced that it 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, the company said.

Originally entered into in 2011, the Facility previously allowed borrowings of up to $670 million and was set to expire in 2016.

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.