backKing & Spalding advised the underwriters, led by Truist Securities, Inc., in connection with the underwritten public offering by HEICO Corporation (NYSE: HEI, HEI.A) (“HEICO”) of $550 million aggregate principal amount of 4.950% senior notes due 2031 and $650 million aggregate principal amount of 5.400% senior notes due 2036. HEICO will use the net proceeds from the offering to pay down borrowings under its revolving credit facility.
Truist Securities, BofA Securities, PNC Capital Markets LLC, Wells Fargo Securities, Credit Agricole CIB and TD Securities served as joint book-running managers for the offering, with co-Managers including Huntington Securities, J.P. Morgan, M&T Securities and RBC Capital Markets.
HEICO, based out of Miami, Florida, is one of the world’s largest manufacturers of Federal Aviation Administration-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers and their subcontractors, and is a leading manufacturer of various types of electronic equipment for the aviation, defense, space, medical, telecommunications and electronics industries.
A press release announcing the transaction can be found here.
The King & Spalding Corporate team included Elizabeth Morgan, Savannah Padgett, Nick Markwordt, and Yuhan Liu.