Hub Group enters $350M credit facility, replacing 2017 agreement

Hub Group, Inc.

New $350M revolving credit facility matures February 24, 2027.
Includes $75M sublimit for letters of credit and $15M sublimit for swingline loans.
Interest rates based on Term SOFR plus spread from 100-175 bps, or base rate plus 0-75 bps.
Financial covenants: total net leverage ratio ≤ 3.00x (3.50x after large acquisitions) and interest coverage ratio ≥ 3.00x.
Proceeds to finance acquisitions, working capital, capex, and general corporate purposes.

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