The facility also included an uncommitted $75 million accordion feature.
The revolver will be used to finance the company’s existing debt, finance ongoing working capital needs, capital expenditures and for general corporate purposes.
Jason Bates, USA Truck executive vice president and chief financial officer, commented, ‘We appreciate the ongoing partnership of our banking syndicate members, as evidenced by their support in upsizing and extending our credit facility. This amended and restated facility reduces our future borrowing costs, provides us approximately $55.0 million of additional borrowing capacity at closing, and facilitates continuing improvement and growth opportunities in our business.”
Other participants in the financing included BMO Harris Bank and SunTrust Robinson Humphrey as joint lead arrangers and joint bookrunners and PNC Bank.
USA Truck provides comprehensive capacity solutions to a broad and diverse customer base throughout North America, including customized truckload, dedicated contract carriage, intermodal and third-party logistics freight management services.