0001213900-26-069674
SEC filingHEICO amended its revolving credit facility, increasing capacity to $2.2 billion and extending maturity to June 2031, while releasing subsidiary guarantees and tying interest rates to credit ratings.
HEICO Corporation entered into a Fourth Amendment to its existing Revolving Credit Agreement, effective June 11, 2026. The amendment increases the total credit facility size by $200 million to $2.2 billion, providing additional liquidity headroom. The maturity date is extended by approximately three years to June 2031, improving the company's debt maturity profile. Notably, the interest rate pricing grid shifts from being based on the Total Leverage Ratio to being based on the company's credit ratings (Index Debt Rating), which may result in lower borrowing costs given HEICO's investment-grade ratings. The letter of credit sublimit is doubled to $200 million, supporting trade finance needs. A significant structural change is the release of all subsidiary guarantees under the credit facility and, automatically, under the senior notes indentures (2028 and 2033 notes). This simplifies the corporate structure and reduces administrative burden, as subsidiaries are no longer required to guarantee the obligations. The amendment also includes updated financial covenant thresholds (e.g., debt incurrence basket, total leverage ratio step-ups for Material Acquisitions) and enhanced representations regarding sanctions and outbound investment rules. Overall, the amendment strengthens HEICO's financial flexibility and aligns the credit agreement with current market practices and the company's capital structure.