Universal Truckload Services, Inc. Announces Offering of Senior Secured Notes
WARREN, Mich., June 18, 2013
WARREN, Mich., June 18, 2013 /PRNewswire/ --Universal Truckload Services,
Inc. (NASDAQ: UACL) today announced that it intends to offer senior secured
notes due 2025 (the "Notes") in a private placement, subject to market
conditions. The Notes are expected to be issued by the Company and guaranteed
by certain of its subsidiaries on a full and unconditional basis. The Notes
are also expected to be secured by the accounts receivable of the Company and
the subsidiary guarantors and a pledge of the equity in certain subsidiaries.
We intend to use the net proceeds from the offering of the Notes for general
corporate purposes, including the refinancing of existing debt.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy the Notes nor shall there be any sale of the Notes in any
state in which such offer, solicitation or sale would be unlawful. The Notes
to be offered have not been and will not be registered under the Securities
Act of 1933, as amended (the "Securities Act"), or applicable state securities
laws, and may not be offered or sold in the United States absent registration
or pursuant to an applicable exemption from the registration requirements of
the Securities Act and applicable state securities laws.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
1995: This press release contains forward-looking statements within the
meaning of Section27A of the Securities Act and Section21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements include,
but are not limited to, statements related to the offering of the Notes and
the anticipated use of proceeds therefrom. These forward-looking statements
involve known and unknown risks, uncertainties and other factors discussed in
Universal Truckload Services, Inc.'s filings with the Securities and Exchange
Commission (the "SEC"). Any forward-looking statements speak only as of the
date of this press release and, except to the extent required by applicable
securities laws, Universal Truckload Services, Inc. expressly disclaims any
obligation to update or revise any of them to reflect actual results, any
changes in expectations or any change in events. If Universal Truckload
Services, Inc. does update one or more forward-looking statements, no
inference should be drawn that it will make additional updates with respect to
those or other forward-looking statements. For additional information
concerning risks, uncertainties and other factors that may cause actual
results to differ from those anticipated in the forward-looking statements,
and risks to Universal Truckload Services, Inc.'s business in general, please
refer to its SEC filings, including its Annual Report on Form 10-K for the
fiscal year ended December31, 2012 and its Quarterly Report on Form 10-Q for
the quarter ended March30, 2013.
SOURCE Universal Truckload Services, Inc.
Contact: David A. Crittenden, Chief Financial Officer, DCrittenden@goutsi.com,
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