Wabash National amended its senior secured term loan credit agreement with Wells Fargo Securities as sole lead arranger and sole bookrunner.

Effective as of November 17, 2017, the amendment repriced the company’s credit agreement from LIBOR plus 275 basis points to LIBOR plus 225 basis points. Wabash currently has approximately $188 million outstanding on the term loan, which matures in 2022.

At current interest rates, the amendment is expected to reduce annual cash interest costs for Wabash by approximately $0.9 million.

Wabash National is a diversified industrial manufacturer and producer of semi-trailers and liquid transportation systems.