Daily News: November 16, 2012

SunTrust Agents U.S. Xpress Facility Amendment, Extension


U.S. Xpress Enterprises, a North American transportation services provider, completed an amendment and extension of its credit facilities. The combined $385 million new structure is comprised of a $190 million term loan B, $155 million accounts receivable securitization, and a $40 million revolving line of credit.

The refinancing increases total available capacity and extends the company’s debt maturity schedule, with the revolver and securitization maturing in 2015 and the extended term loan B maturing in 2016.

SunTrust Robinson Humphrey acted as sole lead arranger and sole book manager for the transaction. It also was the administrator for the securitization facility. SunTrust Bank is administrative agent under the new term loan B and revolving line of credit.