RailAmerica $75 million revolver priced at Libor plus 350 bps

By Sara Rosenberg

New York, Aug. 31 - RailAmerica Inc.'s new $75 million five-year revolving credit facility carries pricing of Libor plus 350 basis points, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

If certain financial covenants and restrictions are met, pricing can step down by 25 bps.

Citigroup Global Markets Inc. acted as the lead arranger and bookrunner on the deal that was completed on Aug. 29.

Proceeds were used to replace an existing $40 million asset-backed loan facility and are available for working capital and general corporate purposes.

RailAmerica is a Jacksonville, Fla.-based owner and operator of short line and regional freight railroads.

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