Rush Enterprises, Inc.’s US$1.25 Billion Floor Plan And Working Capital Financing

Norton Rose Fulbright advised Rush Enterprises, Inc. on the deal.

The financing transactions for Rush Enterprises, Inc. (RUSHA) consisted of a refinancing of a US$1 billion “floor plan” credit facility with BMO Harris Bank, N.A. and a new US$250 million working capital facility with Wells Fargo Bank, National Association.

The proceeds of the refinancing with BMO Harris Bank, N.A. will continue to be used primarily to finance the Company’s purchase of new and used vehicle inventory for sale by the Company with the proceeds from Wells Fargo Bank, National Association used primarily for working capital and general corporate purposes.

Rush operates the largest network of commercial vehicle dealerships in North America, with more than 100 dealership locations in 22 states. These vehicle centers represent manufacturers, including Peterbilt, International, Hino, Isuzu, Ford, IC Bus and Blue Bird. Rush offers an integrated approach to meeting customer needs—from sales of new and used vehicles to aftermarket parts, service and collision center operations plus financing, insurance, leasing and rental.

The Norton Rose Fulbright team consisted of Daryl Lansdale (Picture – San Antonio), Roy Goldman (New York), John Caverlee, Will Badcock, Daniel Sepulveda and Christine Miramontes (Dallas).

Involved fees earner: Will Badcock – Norton Rose Fulbright; John Caverlee – Norton Rose Fulbright; Roy Goldman – Norton Rose Fulbright; Daryl Lansdale – Norton Rose Fulbright; Daniel Sepulveda – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: Rush Enterprises, Inc.;

Author: Martina Bellini