Marten Transport lifts revolver under credit agreement to $75 million

By Tali Rackner

Norfolk, Va., Nov. 6 – Marten Transport, Ltd. entered into a sixth amendment to its credit agreement on Wednesday, increasing the aggregate revolving credit amount of available borrowings to $75 million from $50 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also updates the credit agreement to clarify certain regulatory and compliance requirements and waives the limitations of certain restrictive payments under the agreement through Dec. 31, 2016, to allow for stock redemptions and dividends in excess of 25% of Marten’s total consolidated net income for its most recent prior fiscal year.

U.S. Bank NA is the agent.

Marten is a Mondovi, Wis.-based long-haul truckload carrier.

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