Saia (SAIA) said Tuesday it has amended its unsecured revolving credit facility, raising its borrowing capacity to $600 million from $300 million.
The amendment to the revolving credit facility extends its maturity to December 2029. It also boosts the accordion feature to $300 million from $150 million, the company said, adding that the enhanced credit facility is designed to support the company's strategic initiatives and offer flexibility for opportunistic investments.
The agreement was made with JPMorgan Chase (JPM) as the administrative agent, alongside Bank of America (BAC), BOK Financial (BOKF) and PNC Financial Services Group's (PNC) PNC Bank unit, the company said.
Shares of Saia were up 1.3% in recent Tuesday trading.
Price: 522.99, Change: +6.81, Percent Change: +1.32
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