Student Transportation extends revolver, increases it to $225 million

By Angela McDaniels

Tacoma, Wash., Aug. 21 – Student Transportation Inc. said it amended its senior revolving credit facility led by BMO Harris Bank of Chicago, increasing it to $225 million from $165 million and extending it by five years.

The amended revolver has a $100 million accordion feature, according to a company news release.

The increase in the size of the revolver comes from the addition of HSBC Bank Canada and National Bank Financial to the syndicate group and increased positions made by Toronto Dominion Bank and Fifth Third Bank.

The facility had three years left on it before the extension.

The company uses the revolver for general corporate purposes, growth and asset and equipment purchases.

Student Transportation provides school bus transportation services and is based in Barrie, Ont.

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