Daily News: May 3, 2013

Update: Erickson Air-Crane Financing

Earlier today (5/3/13), abfjournal.com posted a story based on a news release from Erickson Air-Crane that announced it entered into a new $100 million revolving credit facility with a Wells Fargo-led group of financial institutions.

In a subsequent news release, law firm Paul Hastings said it represented lead arranger Wells Fargo in connection with a first lien ABL facility for Erickson Air-Crane, a provider of air transport services. The firm said the total financing consisted of a $100 million first lien ABL facility and a $400 million second lien notes offering, a portion of which was used as financing for the acquisition of Evergreen Helicopters.