HEI News & Events

Heico announced that its Board of Directors declared a 13c per share semiannual cash dividend, an 8% increase from the prior semiannual cash dividend of 12c per share, payable on all shares of its Common Stock and Class A Common Stock.

HEICO increased its existing credit facility to a $2.2B unsecured revolving credit facility, which is a $200M increase to the Facility's previous $2B limit. The Facility is with a banking syndicate led by Joint Lead Arrangers Truist Bank, Bank of America, Wells Fargo, PNC, TD Bank, and Credit Agricole. Other participating banks are Huntington, JPMorgan, RBC, and M&T Bank. Additionally, the Facility's maturity date has been extended to 2031. HEICO's record-size Facility includes an accordion feature allowing it to be increased to $3B under certain circumstances. Borrowings under the Facility bear interest at the Secured Overnight Financing Rate plus an applicable margin ranging from 75 to 125 basis points, which is indexed to HEICO's investment grade rating. Proceeds from the Facility will be used primarily to fund acquisitions, as well as for general business purposes.

HEICO Corporation announced that its Flight Support Group has acquired Cook Defence Systems and related entities to form HEICO-Cook Defence, HCD. HEICO owns 80% of HCD, with the selling entity, William Cook Holdings, retaining 20% ownership. Managing Director William Cook will continue to lead the Company's operations along with the existing management team. Transaction terms and financial details were not disclosed.