LOUISVILLE, Ky., Dec. 5, 2017 /PRNewswire/ -- A&R Logistics Inc., today announced that it has successfully renewed its $140 million Senior Secured Facility with significantly improved terms for the Company.
The renewed bank facility improves pricing on both the Revolving Credit and Term Loan portions of the Facility and removes certain financial covenants to provide greater flexibility for the Company. The renewal also reduces the frequency of field exams and appraisals.
"This renewal provides the capacity and flexibility we need to continue investing in and growing our company," said Richard Mitchell, President. "The renewal of our credit facility is a recognition of our strengthened financial performance and position since we acquired the company in December 2012. The improved terms provide greater latitude to deliver on our strategic priorities."
The renewal extends the maturity date from December 18, 2017 to September 29, 2022. Wells Fargo Capital Finance, LLC, served as the administrative agent.
About A&R Logistics
Headquartered in Louisville, KY, A&R Logistics, Inc. is a leading provider of dry bulk transportation, packaging, distribution and logistics solutions to numerous multinational companies within the chemical and plastic industries. A&R provides a comprehensive suite of services including over-the-road transportation, trans-loading, packaging, warehousing and end-to-end outsourced transportation management through a nationwide network of 27 facilities, a combination of company owned equipment and owner operators and a non-asset based transportation management division. For more information on A&R Logistics, Inc. please visit www.ARDoingItRight.com.
SOURCE A&R Logistics