Kansas City Southern amends revolving loan, pushing out maturity

By Sara Rosenberg

New York, March 22 - Kansas City Southern amended its credit facility, extending the maturity of the revolver to April 28, 2013 from April 28, 2011, according to an 8-K filed with the Securities and Exchange Commission on Monday.

As part of the amendment, pricing on the revolver was increased. Pricing can now range from Libor plus 225 basis points to 325 bps based on leverage.

In addition, the amendment modified certain covenants to permit the incurrence of debt and prepayments of existing unsecured debt.

The amendment was completed on March 16.

The Bank of Nova Scotia is the administrative agent on the deal.

Kansas City Southern is a Kansas City, Mo.-based freight rail transportation company.

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