Universal Logistics extends KeyBank-led credit facility maturity to 2029
ULH•Universal Logistics amended its revolving credit facility, extending maturity to Sept. 30, 2029, from Sept. 30, 2027, and reducing commitments to $350 million from $500 million.
1. Credit facility amended
Universal Logistics entered a Fourth Amendment with KeyBank, as administrative agent, to amend its revolving credit facility. The amendment extends maturity to Sept. 30, 2029, from Sept. 30, 2027, and cuts total revolving commitments to $350 million from $500 million.
2. Accordion and pricing
The uncommitted accordion now allows for up to a $150 million increase in revolving commitments, subject to conditions. The amendment also revises leverage-based pricing grids for interest-rate margins on borrowings and fees on unused commitments.
