Erickson Incorporated, a leading global provider of aviation services, has announced that on Dec. 1, 2016, less than 30 days after granting Erickson’s request to borrow $49 million under a debtor-in-possession term loan facility (the DIP Term Facility) on an interim basis, the United States Bankruptcy Court for the Northern District of Texas granted Erickson’s request on a final basis.
Final approval of Erickson’s proposed financing results in Erickson having access to the full $60 million to provide sufficient liquidity to fund ongoing operations in the ordinary course of business and to maintain Erickson’s longstanding commitment to safety, compliance, and customer service.
“We are pleased with the additional investment from our lenders and the confidence they have displayed in Erickson by meeting our financing needs,” said president and CEO Jeff Roberts. “We will continue to work toward a final restructuring plan with the continued support of our customers and suppliers.”
Suppliers and other stakeholders can find additional information about Erickson’s reorganization at www.ericksoninc.com. In addition, court filings and other information related to the restructuring proceedings are available at www.kccllc.net/erickson.
