Roadrunner Transportation Systems, an asset-right transportation and asset-light logistics service provider, closed a new five-year $292 million asset-based lending facility provided by BMO Harris Bank, JPMorgan Chase and Wells Fargo Capital Finance.

Raymond James served as financial advisor to Roadrunner on this transaction.

The ABL consists of a $200 million revolver secured by accounts receivable and spare parts inventory, a $57 million term loan secured by transportation equipment and a $35 million deferred draw term loan for future transportation equipment financing.

The initial proceeds from this facility were used for working capital purposes and to redeem all outstanding shares of Roadrunner’s Series F Cumulative Redeemable Preferred Stock originally issued in early May.

“As planned, we have successfully closed on a new ABL facility which completes the last key step in our recapitalization. We now have the financing and capital in place to support our current business levels and organic growth over the next five years,” said Curt Stoelting, CEO.