Pacer lowers term loan pricing by 50 basis points

By Sara Rosenberg

New York, May 5 - Pacer International Inc. closed on the repricing of its $139 million term loan, under which the company was able to lower interest rates by 50 basis points, according to a company news release.

Furthermore, the term loan now contains step downs in pricing if the company reaches specified leverage ratios.

Deutsche Bank is the lead bank on the deal.

"The repricing has been made possible by Pacer International's strong operating performance, accelerated debt repayments, and current market conditions," said Don Orris, chairman and chief executive officer, in the release. "It will bring significant additional savings to the company's bottom line."

Pacer is a Concord, Calif.-based third-party logistics and freight transportation provider.

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