Daseke extends revolving credit facility by one year to April 2026

By Rebecca Melvin

Concord, N.H., April 30 – Daseke Inc. and its subsidiaries have entered into an agreement with their lenders to amend the companies’ revolving credit and security agreement, extending its maturity and making other adjustments, according to an 8-K filed with the Securities and Exchange Commission.

The April 29 amendment extends the scheduled maturity of the revolver to April 29, 2026 from Feb. 27, 2025.

It also increases the maximum revolving advance amount to $150 million from $100 million, provides that the maximum revolving advance amount may be increased further to $200 million from $150 million, removes the borrowers’ total leverage financial covenant, which had been tested on a quarterly basis, and provides additional covenant flexibility in terms of increased debt, lien, investment, disposition and restricted payment baskets.

Pricing on the revolver advances is Libor plus 175 basis points. The facility fee is 25 bps to 37.5 bps depending on loan utilization.

PNC Bank NA is agent for the lenders.

Daseke is an Addison, Tex.-based owner and consolidator of flatbed and specialized transportation.

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