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JACKSONVILLE, Fla., March 1, 2012 /PRNewswire/ -- RailAmerica, Inc. (NYSE: RA) today reported that it has closed on a new $585 million credit facility. The new seven-year term loan carries a rate of LIBOR plus 3%, with a 1% LIBOR floor, and was issued at a price of 99.5% of par value. The proceeds will be used to fund the Company's previously announced cash tender offer to purchase up to $444 million principal amount of its existing 9.25% senior secured notes due 2017, pay for transaction expenses and for general corporate purposes. In addition to the new term loan, the Company will amend its existing revolving credit facility and increase its av...
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JACKSONVILLE, Fla., March 1, 2012 /PRNewswire/ -- RailAmerica, Inc. (NYSE: RA) today reported that it has closed on a new $585 million credit facility. The new seven-year term loan carries a rate of LIBOR plus 3%, with a 1% LIBOR floor, and was issued at a price of 99.5% of par value. The proceeds will be used to fund the Company's previously announced cash tender offer to purchase up to $444 million principal amount of its existing 9.25% senior secured notes due 2017, pay for transaction expenses and for general corporate purposes. In addition to the new term loan, the Company will amend its existing revolving credit facility and increase its av...
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