Wabash National lifts ABL revolver commitments to $225 million

By Marisa Wong

Los Angeles, Sept. 29 – Wabash National Corp. amended on Sept. 28 its second amended and restated credit agreement, exercising an option to increase the total revolving credit commitments by $50 million to $225 million, according to an 8-K filing with the Securities and Exchange Commission.

The ABL credit agreement continues to include an increase option, which would allow the company to increase the total revolving credit commitments by a further $50 million to a maximum of $275 million.

The company expects to use a portion of the borrowings under the resulting additional credit availability, coupled with net proceeds from its issuance of $400 million of 4½% senior notes due 2028, to fund the redemption in full of its outstanding 5½% senior notes due 2025, to retire the balance of its existing term loan credit agreement and to pay all related fees and expenses.

Wabash is a Lafayette, Ind.-based diversified manufacturer.

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