Loan & DebtMay 18, 2026, 04:07 PM
ArcBest Terminates $50M Receivables Loan Agreement
AI Summary
ArcBest Corporation and its wholly-owned subsidiary, ArcBest Funding LLC, terminated the Third Amended and Restated Receivables Loan Agreement with Toronto-Dominion Bank on May 18, 2026. This agreement, which provided for up to $50 million in committed funding, primarily supported letters of credit for the company's self-insured workers' compensation and third-party casualty claims. Following the termination, these letters of credit will be issued under the Fifth Amended and Restated Credit Agreement. The company reported no outstanding letters of credit or amounts drawn under the terminated agreement and incurred no early termination penalties.
Key Highlights
- ArcBest and its subsidiary terminated the Third Amended and Restated Receivables Loan Agreement.
- The agreement, dated June 9, 2021, involved ArcBest Funding LLC and Toronto-Dominion Bank.
- It provided for a maximum committed funding of $50 million, with an accordion feature for an additional $100 million.
- The agreement supported letters of credit for workers' compensation and casualty claims.
- As of April 29, 2026, there were no outstanding letters of credit or amounts drawn.
- ArcBest paid no early termination penalties for the agreement.
- Letters of credit will now be issued under the Fifth Amended and Restated Credit Agreement.
Price Impact
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