Casey's General Stores boosts revolver with UMB Bank to $125 million

By Susanna Moon

Chicago, Feb. 12 - Casey's General Stores, Inc. increased its revolving line of credit to $125 million from $100 million with UMB Bank, according to an 8-K filing with the Securities and Exchange Commission.

The company delivered a promissory note for $25 million to UMB Bank last Friday related to the upsizing.

Interest on the promissory note is initially 1.1% per year, with a rate of 100 basis points over the Federal Funds offered rate.

The note is payable in full upon the lender's demand. The company will pay regular monthly payments of accrued interest, beginning March 1.

The revolver was dated May 23, 2011.

Casey's is a convenience store operator based in Ankeny, Iowa.

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