-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 http://www.m2.com
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 email@example.com))
|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-.|