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BRIEF-Hub Group says on July 1, co and Hub City Terminals entered into a $350 mln credit agreement - SEC Filing
July 7, 2017 / 10:20 AM / 5 months ago

BRIEF-Hub Group says on July 1, co and Hub City Terminals entered into a $350 mln credit agreement - SEC Filing

July 7 (Reuters) - Hub Group Inc

* Hub Group Inc - On July 1, 2017, co and Hub City Terminals, Inc. entered into a $350 million credit agreement - SEC Filing

* Hub Group - Credit agreement replaces amended and restated credit agreement dated December 12, 2013 among borrowers and Bank of Montreal, as lender

* Hub Group - Intends to use credit facility to finance in part purchase by Hub Group Trucking, Inc. of substantially all assets of Estenson Logistics, LLC

* Hub Group Inc - Intends to use credit facility to repay all obligations under 2013 credit agreement

* Hub Group Inc - Credit agreement provides for a revolving credit facility that matures on July 1, 2022

* Hub Group - Effective July 1, 2017, Hub Group Trucking, unit of company, entered into a first amendment to purchase agreement dated as of May 25, 2017

* Hub Group - First amendment amends purchase agreement by excluding certain assets and liabilities and reducing base purchase price by $21.5 million

* Hub Group Inc - On July 1, concurrently with entering into credit agreement, co terminated 2013 credit agreement among borrowers and Bank of Montreal

* Hub Group Inc - As of date of termination, borrowers repaid all outstanding borrowings under 2013 credit agreement

* Hub Group Inc - In addition, company did not incur any early termination penalties in connection with termination of 2013 credit agreement Source text: [bit.ly/2tPFkBJ] Further company coverage:

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