TransForce Concludes Extension of Existing Credit Facility Agreement
Montreal, Quebec, August 9, 2012 – TransForce Inc. (TSX: TFI), a North American leader in the transportation and logistics industry, today announced it has concluded a formal agreement to extend and increase its existing credit facility.
As announced July 27, 2012, under the terms of the agreement, the credit facility has been extended to August 2015. The facility is unsecured and can be extended annually. The total available amount has been increased from $650 million to $800 million and the agreement provides more advantageous terms and covenants for TransForce.
The refinancing was carried out with a bank syndicate of 14 lenders led by National Bank Financial as Sole Bookrunner and Co-Lead Arranger and RBC Capital Markets and Bank of America Merrill Lynch in their capacity as co-lead arrangers and with National Bank of Canada acting as Administrative Agent.
TransForce intends to use the credit facility for corporate purposes consistent with its established strategy.