Standard Parking extends term, commitments on $210 million revolver

By Susanna Moon

Chicago, June 6 - Standard Parking Corp. extended the maturity on its $210 million senior revolving credit facility to Oct. 1, 2013 and the termination date of the lenders' commitments to Oct. 31.

The company amended its credit agreement Tuesday with Bank of America NA as administrative agent and Wells Fargo Bank, NA as syndication agent, according to an 8-K filed with the Securities and Exchange Commission.

The credit agreement had been set to end on June 29, 2013, and the lenders' commitments were to expire on Aug. 26.

Standard Parking closed the five-year loan on July 15, 2008 with pricing at Libor plus 200 basis points to 350 bps, based on leverage. The unused fee is 40 bps to 70 bps.

Standard Parking is a Chicago-based provider of parking management, ground transportation and other ancillary services.

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