Pacer negotiates new loan
Intermodal company Pacer International Inc. said it has reached a new credit agreement with a syndicate lenders led by Bank of America.
The $125 million revolving loan, with a feature that offers an increase of up to $50 million subject to certain conditions, “gives us the liquidity to support our long-term commitment to be the best-in-class provider of door-to-door intermodal service,' said Brian C. Kane, executive vice president and chief financial officer.
Pacer said the amended agreement does not change the original maturity date of April 5, 2012.