Roadrunner Transportation Systems, Inc. Enters into New $45.0 Million Senior Secured Asset-Based Credit Facility with Crystal Financial
August 17, 2020 at 07:03 am EDT
Simultaneously with the completion of the Ascent spin-off, Roadrunner's existing senior secured credit facility with BMO Bank Harris, N.A. has been terminated, and the company has entered into a new $45.0 million senior secured asset-based credit facility with Crystal Financial. Roadrunner's divestitures and the spin-off of Ascent have reduced the company's balance sheet liabilities by approximately $400 million, leaving the company with a net cash position.