Saia increases revolver and lowers performance-based pricing grid

By Angela McDaniels

Tacoma, Wash., March 9 – Saia, Inc. amended its revolving credit facility on Friday to increase its borrowing capacity, lower some interest rates and extend the term, according to a company news release.

The amendment

• Increased the size of the credit facility to $250 million from $200 million and added a $75 million accordion feature;

• Extended the maturity to March 2020;

• Reduced the performance-based interest rate pricing grid; and

• Eliminated the borrowing base limitation.

“The amended facility provides flexibility for Saia's future growth opportunities," vice president of finance and chief financial officer Fritz Holzgrefe said in the news release.

The revolver is with BOKF, NA, SunTrust Bank, JPMorgan Chase Bank, NA, Bank of America, NA, PNC Bank, NA and Regions Bank.

Saia is a Johns Creek, Ga.-based provider of less-than-truckload, non-asset truckload and logistics services.

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