Porter Hedges Represents ArcBest in a $250 Million Credit Facility
Porter Hedges represented ArcBest Corporation (Nasdaq: ARCB) (“ArcBest”) in connection with its $250 million revolving credit facility. On September 27th, ArcBest entered into its Third Amended and Restated Revolving Credit Agreement providing for a revolving credit facility with a five year term and an initial maximum credit amount of $250 million at any time outstanding, including a $25 million swing line facility, and a $20 million letter of credit sub-facility. The credit facility also provides the Company with the right to request additional revolving commitments or incremental term loans up to an aggregate additional amount of $125 million, subject to the satisfaction of certain additional conditions. The revolving credit facility will be used, among other purposes, for general corporate purposes and to fund working capital.
Headquartered in Fort Smith, Arkansas, ArcBest is a leading logistics company with creative problem solvers who deliver integrated solutions. For additional information on ArcBest, please visit their website.