Hub Group, Inc. (HUBG): debt financing — Hub Group enters $450M credit agreement replacing 2022 facility

Hub Group, Inc.

New $450M revolving credit facility matures June 2030, replaces 2022 agreement.
Includes $75M letter of credit sublimit and $15M swingline sublimit.
Borrowings at Term SOFR plus margin from 1.00% to 1.75% based on leverage ratio.
Covenants: Total Net Leverage ≤ 3.00x; interest coverage ≥ 3.00x; step-up to 3.50x post-acquisition.
No early termination penalties; all prior borrowings repaid.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Hub Group, Inc. incurred revolving credit of $450 million with Bank of Montreal, as administrative agent at Term SOFR plus a specified margin maturing June 20, 2030.

Instrument: revolving credit
Principal: $450 million
Counterparty: Bank of Montreal, as administrative agent
Rate: Term SOFR plus a specified margin
Maturity: June 20, 2030
Event: incurrence

Exact text from the filing

On June 20, 2025, Hub Group, Inc. (the “Company”) entered into a $450 million credit agreement (the “Credit Agreement”) with Bank of Montreal, as administrative agent, and with certain material subsidiaries of the Company from time to time party thereto as guarantors, and various financial institutions, as lenders.

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Hub Group, Inc. filing history →

Source: SEC EDGAR

accession 0001171843-25-004144

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