SunTrust Bank, Others Amend Saia Facility
Saia amended its revolving credit facility to increase Saia’s borrowing capacity, lower certain interest rates and extend the term.
On March 6, 2015, the company entered into an amendment to its revolving credit facility with SunTrust Bank, JPMorgan Chase Bank, Bank of America, PNC Bank, Regions Bank and BOKF, dba Bank of Oklahoma.
The amendment to the company’s revolver increases the size of the credit facility from $200 million to $250 million and makes available an accordion feature that allows for an additional $75 million in commitments under the facility.
“I am pleased with the terms of this agreement as it reflects the credit market’s recognition of Saia’s continued improvement in our financial results. The amended facility provides flexibility for Saia’s future growth opportunities,” said Saia VP – finance and CFO Fritz Holzgrefe. “We thank our lending group for their ongoing support.”
With headquarters in Georgia, Saia LTL Freight operates 147 terminals in 34 states.