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Provider: Pechala's Reports
Provider: Stock Traders Daily

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EMCOR Group Inc announces new expanded credit facility

Monday, 2 Dec 2013 10:00am EST 

EMCOR Group Inc:Says it had entered into a $1.1 billion credit agreement with a syndicate of banks.Says credit agreement 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.Says the credit agreement is comprised of a $750 million revolving credit facility and a $350 million term loan A.Says the credit facility, which matures in November 2018, replaces the company's existing $750 million revolving credit facility.Says 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.Says the revolving credit facility will be used for working capital and other general corporate purposes. 

Company Quote

-1.58 -3.77%
30 Jan 2015