U.S. Xpress Enterprises, Inc. Completes Amendment & Extension of Credit Facilities
CHATTANOOGA, Tenn., Nov. 15, 2012 /PRNewswire/ -- U.S. Xpress Enterprises, Inc. a leading provider of transportation services throughout North America, is pleased to announce it has completed an amendment and extension of its credit facilities. The combined $385.0 million new structure is comprised of a $190.0 million Term Loan B, $155.0 million Accounts Receivable Securitization, and a $40 million Revolving Line of Credit. The refinancing increases total available capacity and extends the Company's debt maturity schedule, with the revolver and securitization maturing in 2015 and the extended Term Loan B maturing in 2016.
SunTrust Robinson Humphrey, Inc. acted as Sole Lead Arranger and Sole Book Manager for the transaction. SunTrust Bank is administrative agent under the new Term Loan B and revolving line of credit. SunTrust Robinson Humphrey, Inc. is administrator for the securitization facility.
About U.S. Xpress Enterprises, Inc.
Founded in 1985, U.S. Xpress Enterprises is the nation's second largest privately owned truckload carrier, providing a wide variety of transportation solutions throughout North America. We are committed to being at the forefront of safety compliance, using comprehensive training for our staff and drivers and ensuring our trucks feature the latest safety innovations. With a dedication to minimizing our impact on the environment, U.S. Xpress is a SmartWay Transport Partner and was honored with a 2009 SmartWay Environmental Excellence Award. U.S. Xpress Enterprises affiliates include Arnold Transportation Services, Smith Transport, Total Transportation of Mississippi, Xpress Global Systems and Xpress Internacional. For more information, please visit www.usxpress.com.
SOURCE U.S. Xpress Enterprises, Inc.