Radiant Logistics gets $200 million revolver at SOFR plus 165 bps

By Wendy Van Sickle

Columbus, Ohio, Aug. 8 – Radiant Logistics, Inc. secured a new $200 million five-year syndicated secured revolving credit facility to replace its existing $150 million revolver, according to a press release.

The secured facility enhances the company's financial flexibility, providing increased capacity to fund future acquisitions and capital expenditures or for other corporate purposes, including, if warranted at the time, the repurchases of the company’s common stock, Radiant said.

BofA Securities, Inc. acted as the bookrunner and as a joint lead arranger along with Bank of Montreal.

Bank of Montreal also acted as syndication agent. MUFG Union Bank, NA and Keybank NA acted co-documentation agents. Bank of America, NA will serve as administrative agent.

There is a $75 million accordion feature.

Interest is initially SOFR plus 165 basis points. The margin can subsequently range from 140 bps to 240 bps based on the company’s consolidated leverage ratio.

For general borrowings under the secured facility, the company is subject to a maximum consolidated leverage ratio of 3x and a minimum consolidated fixed charge coverage ratio of 1x.

Concurrently with entering into new secured facility, the company also amended the term loans held by its Canadian lender, Fiera Private Debt Funds IV and V, to make the financial and other covenants therein consistent with those contained in the new secured facility. In addition, the security interest securing such term loans were made to be on a parity basis with those assets securing the new secured facility.

Radiant is a Bellevue, Wash.-based non-asset-based transportation and logistics services company that provides domestic and international freight-forwarding services.

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