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SELECTED TRANSACTION DETAILS
U.S. Bank Agents Revolver Increase for ArcBest
Friday, July 14, 2017

Lenders/Participants U.S. Bank [Administrative Agent]
Branch Banking & Trust Co. [Co-Syndication Agent, Lender]
PNC Bank [Co-Syndication Agent, Lender]
Structure Revolver Increase
Amount $200.000 Million
Borrower(s) ArcBest Corporation
Description Company increased the commitments under its revolving credit facility from $150 million to $200 million. The revolving credit facility (the “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 will be used, among other purposes, for general corporate purposes and to fund working capital. The Credit Facility also provides the Company with the right to request additional revolving commitments or incremental term loans thereunder up to an aggregate additional amount of $100 million (the “Accordion Feature”), subject to the satisfaction of certain additional conditions provided therein. The Credit Facility matures on July 7, 2022 (the “Termination Date”) and borrowings under the Credit Agreement can either be, at the Company’s election: (i) at the Alternate Base Rate (as defined in the Credit Agreement) plus a spread ranging from 0.25% to 1.50% or (ii) at the Eurodollar Rate (as defined in the Credit Agreement) plus a spread ranging from 1.25% to 2.50%. The applicable spread is dependent upon the Company’s Adjusted Leverage Ratio (as defined in the Credit Agreement). Interest accrued on each Base Rate Advance (as defined in the Credit Agreement) is payable in arrears on the last Business Day (as defined in the Credit Agreement) of each calendar quarter and on the Termination Date. Interest accrued on each Eurodollar Advance (as defined in the Credit Agreement) is payable on the last day of the applicable interest period, or every three months, whichever comes sooner, and on any prepayment date and the Termination Date.
Industry Logistics
Related Tags Branch Banking and Trust Co., PNC Bank, U.S. Bank




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