Freight and logistics provider ArcBest amended its credit agreement with U.S. Bank as administrative agent, increasing the commitments under its revolving credit facility from $150 million to $200 million.

The revolving credit facility has a five-year term and an initial maximum credit amount of $200 million, including a swing line facility and a letter of credit sub-facility providing for the issuance of letters of credit, in each case up to an aggregate amount of $20 million.

The credit facility also provides the right to request additional revolving commitments or incremental term loans thereunder up to an aggregate additional amount of $100 million.

According to a related 8-K filing, Branch Banking and Trust and PNC served as syndication agents, while U.S. Bank was also the sole lead arranger and sole bookrunner.

The credit facility will be used for general corporate purposes and to fund working capital.

The facility is secured by a lien on substantially all of the assets of the company and of its material domestic subsidiaries, and pledges of equity interests in certain subsidiaries of the company and its material domestic subsidiaries.

The credit facility matures on July 7, 2022 and borrowings can either be, at the company’s election: at the Alternate Base Rate plus a spread ranging from 0.25% to 1.50% or at the Eurodollar Rate plus a spread ranging from 1.25% to 2.50%.