J.B. Hunt enters $1.5B credit facility, replacing $750M prior agreement

HUNT J B TRANSPORT SERVICES INC

New $1.5B credit agreement includes $1.0B revolving line (5-yr term) and $500M term loan (due 2025).
Revolver may be increased by up to $300M and extended by up to two one-year periods.
Facility used for equipment purchases, stock repurchases, refinancing, and working capital.
Replaces prior $750M credit agreement dated September 25, 2018.
Credit terms tied to parent's senior unsecured debt ratings (SOFR + applicable margin).

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