U.S. Xpress Enterprises extended its credit facilities by securing a $385 million credit deal that increases its total available funds, the trucking operator said Thursday.
The refinanced credit structure includes a $190 million loan, a $155 million accounts receivable securitization and a $40 million revolving line of credit.
The refinancing increases total available borrowing capacity under the agreement and extends the company’s debt maturity schedule into 2015 and 2016.
U.S. Xpress Enterprises is the fifth-largest truckload operator in the U.S. by revenue, with $1.57 billion in revenue in 2011, according to SJ Consulting Group.
The Chattanooga, Tenn., company is the second-largest privately owned truckload operator, smaller only than Green Bay, Wis.-based Schneider National.
U.S. Xpress Enterprises recently purchased a 90 percent interest in Mexican carrier Xpress Internacional and formed a joint venture with Mexico-based Logisti-K.