Business
Saia Inc. Announces Increase in Borrowing Capacity
JOHNS CREEK, Ga., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Saia, Inc. (NASDAQ: SAIA), a leading transportation provider offering national less-than-truckload (LTL),
About this update from Saia, Inc.
[{"type":"text","content":"JOHNS CREEK, Ga., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Saia, Inc. (NASDAQ: SAIA), a leading transportation provider offering national less-than-truckload (LTL), non-asset truckload, expedited and logistics services, announced today that it has closed on an amendment to its unsecured revolving credit facility to increase its borrowing capacity from $300 million to $600 million. The amendment also extends the maturity of the existing credit facility to December 2029. The amendment to the revolving credit facility was entered into on December 9, 2024, with JPMorgan Chase Bank, N.A. as Administrative Agent, Bank of America, N.A., BOKF, NA, and PNC Bank National Association. Among other items, the amended credit facility: Enhances the company’s flexibility to support the company’s strategic initiativesOffers capacity to support opportunistic investmentsIncreases the size of the credit facility commitments to $600 millionIncreases the availability under an accordion feature from $150 million to $300 millionExtends the maturity until December 2029 \"We are pleased to have successfully closed on this amendment. Doubling the facility size and enhancing our flexibility provides us increased capacity to fuel our growth and pursue strategic opportunities that may arise,” said Saia’s Executive Vice President and CFO, Matthew Batteh. \"We are grateful for the strong partnership with our bank group. This amendment strengthens our financial position and underscores our commitment to delivering value to our shareholders.\" This description of the amendment to the revolving credit facility is a summary only and is qualified in its entirety by reference to the full text of the amendment, a copy of which will be filed in a Form 8-K with the Securities and Exchange Commission. Saia, Inc. (NASDAQ: SAIA) offers customers a wide range of less-than-truckload, non-asset truckload, expedited and logistics services. With headquarters in Georgia, Saia LTL Freight operates 214 terminals with service across 48 states. For more information on Saia, Inc. visit the Investor Relations section at www.saia.com/about-us/investor-relations. Cautionary Note Regarding Forward-Looking Statements The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and ma...