Simmons First National gets $75 million revolving line via U.S. Bank

By Marisa Wong

Morgantown, W.Va., Oct. 11 – Simmons First National Corp. entered into a $75 million revolving credit agreement on Oct. 6 with U.S. Bank NA, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The revolving line of credit expires on Oct. 5, 2018.

Loans will bear interest at one-month Libor plus 150 basis points.

The company intends to use proceeds primarily for refinancing some debt obligations that it expects to assume in connection with pending acquisitions.

There were no outstanding revolving credit loans under the credit agreement as of Oct. 11.

Simmons is a Pine Bluff, Ark.-based bank holding company.

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