Great Lakes Dredge & Dock Corporation announced that it has closed on a $250 million three year revolving credit facility.  PNC Bank, National Association acted as Administrative Agent and Issuing Lender.  The bank group consists of PNC, The PrivateBank and Trust Company, Suntrust Robinson Humphrey Inc., Capital One, Bank of America, N.A., Texas Capital Bank, and Woodforest National Bank. The credit facility will be used to refinance existing indebtedness under the Company’s former revolving credit facility, refinance existing indebtedness under the company’s former term loan agreement, pay fees and expenses related to the new credit facility, finance permitted acquisitions, finance ongoing working capital and for other general corporate purposes. The revolving credit facility is secured by substantially all of the assets of the company. Interest on the senior secured revolving credit facility of the Credit Agreement is equal to either a Base Rate option or LIBOR option, at the company’s election.  Both interest rates include a calculation to take into account undrawn availability on the facility.