Erickson Air-Crane lifts revolver to $125 million led by Wells Fargo

By Susanna Moon

Chicago, June 17 - Erickson Air-Crane Inc. said it amended its five-year revolving credit facility, boosting the total size to $125 million.

The company amended the facility led by Wells Fargo Bank, NA and including Bank of the West, Deutsche Bank Trust Co. Americas and HSBC Bank USA NA, according to a press release.

Interest on the loans continues to be Libor plus 325 basis points to 450 bps, based on leverage.

"We are pleased to have received this amendment to our revolver, which further enhances our capital structure and gives us increased working capital flexibility to capture the broadening opportunities in diverse end-markets and geographies as we pursue and deliver on our continued growth strategy," Udo Rieder, chief executive officer of Erickson Air-Crane, said in the press release.

Erickson Air-Crane is a Portland, Ore.-based provider of helicopter lift services.

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