Erickson Air-Crane receives secured credit facility commitment letter Erickson Air-Crane (EAC) has received a binding commitment letter from a bank syndicate led by Wells Fargo (WFC) Bank for a new senior secured credit facility of up to $165.0M, consisting of a $115.0M term loan facility and a revolving credit facility of up to $50.0M. The company and the bank syndicate will need to negotiate and execute a new credit agreement and related documents, which would replace the company’s current credit agreement, also led by Wells Fargo Bank. The current credit agreement consists of a $65.0M term loan facility and a revolving credit facility of up to $67.5M which matures on June 24.
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