RADIANT LOGISTICS ANNOUNCES AMENDED AND RESTATED $200 MILLION SECURED REVOLVING CREDIT FACILITY
Rhea-AI Summary
Radiant Logistics (NYSE American: RLGT) completed the syndication of an amended and restated $200 million secured revolving credit facility, replacing its prior $200 million facility that was due August 5, 2027. The new Secured Facility has a five-year term to 2031 and supports acquisitions, capex, and potential share repurchases.
The facility includes an enlarged $100 million accordion, variable interest at SOFR + 137.5–212.5 bps and a 15–30 bps unused commitment fee, all at reduced pricing with no credit spread adjustment. As of March 31, 2026, Radiant had $25 million drawn and $39.6 million cash, resulting in no net debt.
Positive
- $200 million secured revolver with extended maturity to 2031
- Accordion feature increased to $100 million for future acquisitions
- Lower interest margin of SOFR + 137.5–212.5 bps
- Reduced unused commitment fee to 15–30 bps
- No net debt with $25 million drawn and $39.6 million cash
Negative
- Facility is secured by accounts receivable and other company assets
- Maximum consolidated net leverage ratio covenant set at 3.0x
News Explained
The refinancing keeps borrowing capacity available, but the facility is secured and governed by financial tests.
The completed refinancing leaves Radiant Logistics with up to
The facility is secured by accounts receivable and other company and subsidiary assets, with separate minimum-availability and covenant requirements if advances are used for acquisitions or common-stock repurchases.
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Under the Secured Facility (i) BofA Securities, Inc. will act as a joint book runner and joint lead arranger, (ii) each of Bank of Montreal and PNC Bank, National Association will act as a lender, a joint book runner, a joint lead arranger, and a co-syndication agent, (iii) Keybank National Association will act as a lender, and (iv) Bank of America, N.A., will act as a lender and will also serve as the administrative agent.
Under the terms of the amended and restated Secured Facility, the Company may borrow up to
The Secured Facility carries a new five-year term, extending the maturity of the facility to 2031, and is secured by accounts receivable and other assets of the Company and its subsidiaries. For general borrowings under the Secured Facility, the Company is subject to a maximum consolidated net leverage ratio of 3.0x and a minimum consolidated interest coverage ratio of 3.0x. Additional minimum availability requirements and financial covenants apply in the event the Company seeks to use advances under the Secured Facility to pursue acquisitions or repurchase its common stock. Under the terms of the Secured Facility, as of March 31, 2026, the Company had
"We are very pleased to announce our amended and restated
About Radiant Logistics, Inc.
Radiant Logistics, Inc. (www.radiantdelivers.com) is a third-party logistics and multimodal transportation services company delivering advanced supply chain solutions through a network of company-owned and strategic operating partner locations across North America. Through its comprehensive service offerings, the Company provides domestic and international freight forwarding services, truck and rail brokerage services and other value-added supply chain management services, including customs brokerage, order fulfillment, inventory management and warehousing to a diversified account base including manufacturers, distributors and retailers using a network of independent carriers and international agents positioned strategically around the world.
*This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to: trends in the domestic and global economy; our ability to attract new and retain existing agency relationships; acquisitions and integration of acquired entities; availability of capital to support our acquisition strategy; our ability to comply with financial covenants under our outstanding indebtedness; our ability to maintain and improve back office infrastructure and transportation and accounting information systems in a manner sufficient to service our revenues and network of operating locations; our ability to maintain and grow our revenues and operating margins in a manner consistent with recent operating results and trends; our ability to maintain positive relationships with our third-party transportation providers, suppliers and customers; outcomes of legal proceedings; competition; management of growth; potential fluctuations in operating results; and government regulation. More information about factors that potentially could affect our financial results is included Radiant Logistics, Inc.'s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.*
The use of proceeds under the amended and restated Secured Facility described above reflect possible uses and are not guarantees of how the proceeds will be used, if at all. Any use of proceeds by the Company will be subject to, among other things, then applicable: industry conditions, competitive environment, operational performance, financial covenants within any outstanding indebtedness, contractual restrictions, and regulatory requirements.
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SOURCE Radiant Logistics, Inc.