Pacer International gets $125 million asset-based credit facility

By Sara Rosenberg

New York, Jan. 4 - Pacer International Inc. closed on a $125 million five-year asset-based revolving credit facility, according to a news release.

Bank of America and Wells Fargo are the lenders on the deal, with Bank of America the administrative agent.

There is a $50 million accordion feature.

Proceeds were used to refinance an existing credit facility.

The new revolver has lower pricing than the old deal, no limitations on capital expenditures and looser covenants.

Pacer is a Dublin, Ohio-based freight transportation and global logistics services provider.

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