HEICO Corporation Increases Credit Facility to an Aggregate Capacity of $1 Billion and Extends Term

MIAMI and HOLLYWOOD, Fla., Nov. 25, 2013 (GLOBE NEWSWIRE) — HEICO Corporation (NYSE:HEI.A) (NYSE:HEI) today announced that it increased its $670 million revolving credit facility (the “Facility”) to an aggregate potential future capacity of $1 Billion and that it also extended the facility by an additional year until December 2018. Under the amendment, $800 million of the Facility is now fully committed for funding and an additional $200 million has been committed subject to future consent of the lenders.

Originally entered into in 2011, the Facility previously allowed borrowings of up to $670 million and was set to expire in 2016. Based on HEICO’s credit characteristics, the bank group has now twice extended the Facility’s expiration to allow for expiration in five years from now. Further, certain other amendments were made to provide additional financial flexibility.

The Facility is lead-managed by SunTrust Bank, Bank of America, N.A. and Wells Fargo Bank, National Association and is utilized for acquisitions and other corporate needs. Other banks participating are Branch Banking and Trust Company, PNC Bank National Association, US Bank National Association, RBS Citizens N.A., Fifth Third Bank, JP Morgan Chase Bank, Synovus Bank, The Northern Trust Company, Mercantil Commercebank, N.A. and Florida Community Bank N.A. We are proud of our relationships with them and look forward to continuing to work together.

Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer, along with Co-Presidents, Eric A. Mendelson and Victor H. Mendelson, remarked “HEICO’s financial strength, coupled with a very strong group of lenders, allowed us to enter into this credit expansion and term extension. Our expanded Facility will enable us to continue investing in and growing our business, while maintaining a low cost of capital to execute on our strategic plans.”