H&E Equipment Services (Mid-Atlantic), Inc. sells construction equipment in the Mid-Atlantic region. It offers hydraulic excavators, wheel loaders, dozers, concrete pumps, tub grinders, drills, trucks, spreaders, blowers, hydro seeders, scrap handlers, and log handlers, as well as vibratory, soil, and asphalt rollers. The company also offers demolition hammers, pavers, scalers, hydraulic shovels, telescoping boom trucks, equipment trailers, extractors, shears, and demolition breakers. In addition, it provides crawler cranes, crawler loaders, crawler tractors, air compressors, compactors, sweepers, hydraulic cranes, and motor graders. Further, the company offers excavators, hydraulic cranes, ...
1301 Rockland Avenue
Roanoke, VA 24012
Founded in 1934
H&E Equipment Services, Inc. and its Subsidiaries Enter Amended, Extended and Restated Existing $602.5 Million Senior Secured Credit Facility with Wells Fargo Capital Finance, LLC
Dec 27 17
On December 22, 2017, H&E Equipment Services, Inc. amended, extended and restated its existing $602.5 million senior secured credit facility with Wells Fargo Capital Finance, LLC as administrative agent (as successor to General Electric Capital Corporation) by entering into the Fifth Amended and Restated Credit Agreement by and among the Company, Great Northern Equipment, Inc., H&E Equipment Services (California), LLC, H&E Equipment Services (Mid-Atlantic), Inc., the other credit parties named therein, the lenders named therein, Wells Fargo Capital Finance, LLC, as administrative agent, and the joint lead arrangers, joint book runners, co-syndication agents and documentation agent named therein. The Amended and Restated Credit Agreement, among other things, (i) extends the maturity date of the credit facility from May 21, 2019 to December 22, 2022, (ii) increases the commitments under the senior secured asset based revolver provided for therein from $602.5 million to $750 million, (iii) increases the uncommitted incremental revolving capacity from $150 million to $250 million, (iv) provides that the unused line fee margin will be either 0.375% or 0.25%, depending on the Average Revolver Usage (as defined in the Amended and Restated Credit Agreement) of the borrowers, (v) lowers the interest rate (a) in the case of base rate revolving loans, to the base rate plus an applicable margin of 0.50% to 1.00% depending on the Average Availability (as defined in the Amended and Restated Credit Agreement) and (b) in the case of LIBOR revolving loans, to LIBOR (as defined in the Amended and Restated Credit Agreement) plus an applicable margin of 1.50% to 2.00%, depending on the Average Availability, (vi) lowers the margin applicable to the letter of credit fee to between 1.50% and 2.00%, depending on the Average Availability, and (vii) permits, subject to certain conditions, an unlimited amount of Permitted Acquisitions, Restricted Payments and prepayments of Indebtedness (in each case, as defined in the Amended and Restated Credit Agreement). The Amended and Restated Credit Agreement continues to provide for, among other things, a $30 million letter of credit sub-facility, and a guaranty by certain of the Company’s subsidiaries of the obligations under the credit facility. In addition, the credit facility remains secured by substantially all of the assets of the Company and certain of its subsidiaries.