Printer Friendly

-BMO, BofA Merrill Lynch, US Bank, JP Morgan lead USD750m revolver to EMCOR.

BANKING AND CREDIT NEWS-November 23, 2011--BMO, BofA Merrill Lynch, US Bank, JP Morgan lead USD750m revolver to EMCOR(C)2011 M2 COMMUNICATIONS

23 November 2011 - BMO Capital Markets, Bank of America Merrill Lynch, US Bank and JP Morgan Chase Bank have led a USD750m (EUR557.1m) revolving credit facility to EMCOR Group Inc (NYSE:EME), the US electrical and mechanical construction and facilities services provider said Tuesday.

The financing was provided by a syndicate of banks.

The revolver, which is secured by substantially all assets of EMCOR and its units, expires in November 2016. It substitutes the company's USD550m credit facility.

The fresh funds will be deployed for general corporate purposes, such as working capital, capital spending and acquisitions, EMCOR said.

According to EMCOR's CEO, Tony Guzzi, the deal boosts the firm's liquidity and financial flexibility to pursue its long-term goals.

((Comments on this story may be sent to

COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 Banking & Credit News (BCN)
Date:Nov 23, 2011
Previous Article:-BNP Paribas to shut Houston office as part of job cuts.
Next Article:-Fitch rates First Midwest Bancorp's USD115m notes at BBB-.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters