Pacer International completes senior credit facilities repricing
Pacer International Inc., the non-asset-based third-party logistics and freight transport provider, said it has completed the repricing of its senior credit facilities.
The repricing, negotiated with a syndicate of financial institutions led by Deutsche Bank, is expected to produce an immediate interest reduction of 0.5 percent, equivalent to an annual interest expense reduction of $1.1 million, based upon the current $222.0 million outstanding debt balance, Concord, Calif.-based Pacer said.
The senior credit facility, established in June, provided for a seven-year term loan maturing in 2010 in an original principal amount of $255.0 million and a five-year $75.0-million revolving credit facility.
