J.B. Hunt enters into new $500 million five-year revolving facility

By Aleesia Forni

Columbus, Ohio, Aug. 18 - J.B. Hunt Transport Services, Inc. entered into a new $500 million revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Pricing on the revolver ranges from Libor plus 87.5 basis points to 145 bps, depending on the company's debt rating.

The facility fee ranges from 12.5 bps to 30 bps.

Merrill Lynch, Pierce, Fenner & Smith Inc., Bank of Tokyo-Mitsubishi UFJ Ltd. and U.S. Bank NA are joint lead arrangers and joint book managers.

Bank of American, NA is administrative agent and swing line lender.

J.B. Hunt may request a one year extension of the maturity date and an increase of up to $250 million.

This new facility replaces a 2007 revolver of $350 million.

J.B. Hunt is a transportation logistics company, headquartered in Lowell, Ark.

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