Pacer International Enters Into New Credit Agreement

Pacer International, Inc. PACR, a leading North American freight transportation and global logistics services provider, has successfully entered into a new financing arrangement with Bank of America and Wells Fargo, with Bank of America, N.A., as administrative agent and Wells Fargo Capital Finance LLC, as co-agent. The new credit agreement offers the Company and its subsidiaries improved credit terms, including lowering the interest rates and fees payable to the lenders; eliminating any limitations on capital expenditures; easing the restrictive covenants that limit the Company's ability to make investments, acquisitions, and equity distributions and otherwise increasing baskets and threshold amounts throughout the covenants; establishing a long term facility which matures on December 30, 2015; and reducing the number of participating lenders from eleven to two.