Dec. 16, 2013: EMCOR Group Announces New Expanded Credit Facility
Agreement Is Comprised of $750 Million Revolving Credit Facility and $350 Million Term Loan
NORWALK, Conn. — EMCOR Group Inc., a leader in mechanical and electrical construction, industrial energy infrastructure, and facilities services, announced that it has entered into a $1.1 billion credit agreement with a syndicate of banks led by BMO Capital Markets, Bank of America Merrill Lynch, U.S. Bank National Association, J.P. Morgan Chase Bank N.A., and RBS Citizen’s Bank as joint lead arrangers and joint book runners.
The credit agreement is comprised of a $750 million revolving credit facility and a $350 million term loan A. The credit facility, which matures in November 2018, replaces the company’s existing $750 million revolving credit facility. The company is using the proceeds of the term loan to repay amounts drawn under its revolving credit facility in connection with its recently announced acquisition of RepconStrickland Inc. The revolving credit facility will be used for working capital and other general corporate purposes. The loans under the credit agreement are secured by substantially all the assets of EMCOR and its subsidiaries.