March 30, 2010 (FinancialWire) — Radiant Logistics, Inc. (OTCBB: RLGT), a freight forwarding and logistics services firm, said it has amended and extended its secured credit facility with Bank of America, N.A. (NYSE: BAC).

The facility has been extended to March 31, 2012. As amended and including availability for company letters of credit, the facility has been increased from $15 million to $20 million.

In addition, Radiant said that the facility’s financial covenants have been modified to increase allowable advances from 3.25x to 4.0x the company's consolidated EBITDA as measured on a rolling four quarter basis.

Radiant added that advances under the facility are available to fund future acquisitions, capital expenditures or for other corporate purposes, including the repurchase of the company's stock. The facility is collateralized by accounts receivable and other assets of the company and its subsidiaries and provides for advances of up to 80% of eligible domestic accounts receivable and for advances of up to 60% of eligible foreign accounts receivable.

Washington-based Radiant Logistics is a non-asset based logistics company providing domestic and international freight forwarding and related services through a network of roughly 70 company owned and exclusive agent offices across North America.

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