Emcor restates credit agreement for $1.3 billion five-year revolver

By Marisa Wong

Los Angeles, Dec. 21 – Emcor Group, Inc. and wholly owned subsidiary Emcor Group (UK) plc entered into a seventh amended and restated credit agreement on Dec. 20 with Bank of Montreal as agent, according to an 8-K filing with the Securities and Exchange Commission.

The agreement, which restates the sixth amended and restated credit agreement dated March 2, 2020, provides for a $1.3 billion five-year revolving credit facility.

The parent company may borrow up to $1.3 billion, and the subsidiary may borrow up to $100 million.

The company has the ability to increase the revolver by up to an additional amount equal to the greater of $900 million and adjusted EBITDA for the 12-month period then ended.

The revolver matures on Dec. 20, 2028.

Interest is equal to term SOFR plus 112.5 basis points to 187.5 bps, depending on the company’s leverage ratio.

Emcor is a Norwalk, Conn.-based mechanical and electrical construction services, industrial and energy infrastructure and building services company.

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