H&E Equipment Services amends credit agreement, eliminating property, expenditure provisions

By Jennifer Chiou

New York, Nov. 18 - H&E Equipment Services LLC amended its credit agreement with lenders led by General Electric Capital Corp. to eliminate provisions on maximum property and equipment capital expenditures, according to an 8-K filing with the Securities and Exchange Commission.

Under the original agreement, H&E Holdings and its subsidiaries could not make property and equipment capital expenditures during any fiscal year in excess of $5 million.

On Jan. 13, 2005, the provision had been amended to increase the allowable property and equipment capital expenditures to $8.5 million from $5.0 million.

The equipment rental company has headquarters in Baton Rouge, La. Its subsidiaries Great Northern Equipment Services LLC, H&E Holdings, LLC, GNE Investments, Inc. and H&E Finance Corp. were also involved in the amendment.

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