EMCOR Group Inc. (EME) announced that it has closed on a $550 million revolving credit facility with a syndicate led by BMO Capital Markets, Bank of America Merrill Lynch, and US Bank. The credit facility, which matures in February 2013, replaces the company's existing $375 million credit facility, which was scheduled to mature in October 2010.
The company intends to use the proceeds for general corporate purposes, including repayment of indebtedness under its existing term loan agreement, working capital, capital expenditures, and acquisitions.
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