JACKSONVILLE, Fla., Aug. 30, 2011 /PRNewswire/ -- RailAmerica, Inc. (NYSE: RA) today announced that it has entered into a new $75 million revolving credit facility. Separately, RailAmerica also announced that its board of directors has authorized the repurchase of up to $25 million of the Company's common stock.The new revolving credit facility matures in August 2016 and replaces RailAmerica's existing $40 million Asset Backed Loan facility. The lending group on the new facility includes Citibank, N.A., the lending affiliate of Morgan Stanley Senior Funding, Inc. and BMO Harris Bank. Under the stock repurchase program, the Company may purchase common stock from time to time i... More...
