Kansas City Southern obtains five-year $600 million revolver

By Wendy Van Sickle

Columbus, Ohio, March 11 – Kansas City Southern entered into a $600 million five-year revolving credit facility on Friday with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The facility includes an up to $25 million standby letter-of-credit facility.

Interest is equal to Libor plus 100 basis points to 175 bps, depending on the company’s credit ratings.

At closing, the commitments of the lenders under the company’s existing were terminated, and outstanding obliations were repaid.

Bank of America Merrill Lynch, Citibank, NA, JPMorgan Chase Bank, NA, U.S. Bank NA and Wells Fargo Securities, LLC are joint lead arrangers and bookrunning managers. JPMorgan Chase Bank, NA, Citibank, NA, U.S. Bank and Wells Fargo Bank, NA are co-syndication agents.

The freight transportation company is based in Kansas City, Mo.

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