Saia announces new revolving credit facility

Saia announced that it has closed on a new unsecured revolving credit facility with committed borrowing capacity of $300 million and an incremental $150 million accordion feature. This credit facility replaces the Company’s existing secured $300 million revolving credit facility, which was scheduled to mature in February 2024. On February 3, 2023, the Company entered into a credit agreement with JPMorgan Chase Bank, N.A. as Administrative agent, BOKF, NA as Syndication Agent, and Bank of America, PNC Bank, National Association and TD Bank, N.A., as Co-Documentation Agents. Among other items, the new credit facility: Allows Saia to access capital without pledging collateral; Maintains the size of the credit facility commitments of $300 million; Increases the availability under an accordion feature from $100 million to $150 million; Extends the maturity until February 3, 2028; Provides an interest rate pricing grid with more favorable borrowing costs.