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, entered into a new $100 million, five-year revolving ABL 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.

The total financing consisted of the $100 million first lien ABL facility anda  $400 million second lien notes offering.   A portion of the notes proceeds were used as financing for the acquisition of Evergreen Helicopters, Inc.

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.