Roadrunner lenders waive covenant default, cut revolving credit line

By Wendy Van Sickle

Columbus, Ohio, Nov. 17 – Roadrunner Transportation Systems, Inc. entered into a waiver to its sixth amended and restated credit agreement on Monday, according to an 8-K filing with the Securities and Exchange Commission.

Specifically, the administrative agent and lenders waived the default resulting from the company’s anticipated non-compliance with, and any actual or potential event of default resulting from such a non-compliance with, the cash flow leverage ratio financial covenant for the four quarters ended Sept. 30.

Additionally, the revolving line of credit was reduced to $250 million from $300 million.

U.S. Bank NA is the administrative agent, swingline lender and letter-of-credit issuer.

Roadrunner is an asset-light transportation and logistics service provider based in Cudahy, Wis.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.