Greenbrier restates credit agreement for $550 million revolver

By Marisa Wong

Morgantown, W.Va., Oct. 30 – The Greenbrier Cos., Inc. entered into a third amended and restated credit agreement on Oct. 29 for a $550 million revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

to Bank of America Merrill Lynch is the lead arranger and bookrunner with Bank of America, NA as administrative agent, MUFG Union Bank, NA as syndication agent and Bank of the West, Fifth Third Bank and Wells Fargo Bank, NA as co-documentation agents.

The credit facility restates the company’s second amended and restated credit agreement dated June 30, 2011.

The amended facility provides for additional incremental facilities up to $100 million.

The facility matures on Oct. 29, 2020.

Interest is equal to Libor plus an applicable margin ranging from 175 basis points to 225 bps, depending on the company’s consolidated capitalization ratio.

The commitment fee ranges from 25 bps to 35 bps, also based on the consolidated capitalization ratio.

In addition, the facility requires Greenbrier to comply with a consolidated adjusted interest coverage ratio covenant and a consolidated capitalization ratio covenant.

Greenbrier is a Lake Oswego, Ore.-based supplier of transportation equipment and services to the railroad industry.

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