HEICO Increases Revolver to $2.2B, Extends Debt Maturity to 2031
HEI•HEICO Corporation expanded its unsecured revolving credit facility by $200 million to $2.2 billion, extended its maturity to 2031, and added a $3 billion accordion feature. The facility carries interest at SOFR plus 75–125 basis points and will fund acquisitions and general corporate purposes.
1. Credit Facility Expansion
HEICO raised its unsecured revolving credit facility limit by $200 million to $2.2 billion and extended its maturity to 2031, while including an accordion feature that allows growth to $3 billion under certain conditions. A banking syndicate led by Truist, Bank of America, Wells Fargo, PNC, TD Bank, and Crédit Agricole participated alongside Huntington, JPMorgan, RBC, and M&T.
2. Borrowing Costs and Structure
Borrowings under the facility carry interest at the Secured Overnight Financing Rate plus an applicable margin of 75 to 125 basis points, indexed to HEICO’s investment grade credit rating. This pricing reflects attractive funding costs for the company and underscores its financial flexibility.
3. Strategic Funding for Acquisitions
Proceeds from the facility are earmarked primarily for acquisitions and general corporate purposes, supporting HEICO’s disciplined growth strategy. Since 1996, the company has completed over 110 acquisitions and intends to leverage the expanded facility to pursue additional targets efficiently.
