CSX replaces $1.25 billion revolver with $1 billion five-year revolver

By Angela McDaniels

Tacoma, Wash., Oct. 4 - CSX Corp. obtained a new $1 billion five-year senior revolving credit facility on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The facility can be increased to up to $1.5 billion.

The interest rate is Libor plus 79.5 basis points to 145 bps, and the facility fee is 8 bps to 30 bps. Both depend on the company's ratings.

J.P. Morgan Securities LLC is the bookrunner. JPMorgan Chase Bank, NA is the administrative agent.

Citibank, NA, Credit Suisse AG, New York Branch, Mizuho Corporate Bank, Ltd. and Bank of Tokyo-Mitsubishi UFJ, Ltd. are the syndication agents. Morgan Stanley Senior Funding, Inc., PNC Bank, NA, Northern Trust Co. and UBS Securities LLC are the documentation agents.

Borrowings are prepayable at any time.

Proceeds may be used for working capital and other general corporate purposes.

The new revolver replaces the company's $1.25 billion revolver. There were no outstanding borrowings at the time of termination.

CSX is a railroad and transportation company based in Jacksonville, Fla.

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