Roadrunner enters amended $170 million term, $125 million revolver

By Jennifer Chiou

New York, Aug. 8 - Roadrunner Transportation Systems, Inc. amended and restated its existing credit facility with U.S. Bank NA on Aug. 3, raising the term loan to $170 million from $140 million and the revolving line of credit to $125 million from $100 million, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

On the same date, the company announced its acquisition of substantially all of the operating assets and business of R & M Transportation, Inc. and all of the outstanding stock of Sortino Transportation, Inc., providers of truckload services based in Omaha, Nebraska, for roughly $24.4 million plus an earn-out not to exceed $5 million.

Up to $10 million of the revolver may be used for swingline loans and up to $25 million may be used for letters of credit.

The credit facility matures on Aug. 3, 2017.

The filing noted that the acquisition was financed with borrowings under the loan.

Roadrunner is a transportation and logistics services provider based in Cudahy, Wis.

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