Wabash National Corporation announced it will launch a process intended to secure a new, $192.8 million Senior Secured Term Facility with an expected maturity in 2022, and the expected inclusion of other terms and conditions similar to the Company's existing Senior Secured Term Facility. The proceeds from a new Facility will be used to repay in full the outstanding balance on the Company's existing Senior Secured Term Facility, which matures on May 8, 2019. The process for the new Senior Secured Term Facility will be arranged by Wells Fargo Securities, LLC, and Morgan Stanley Senior Funding, Inc., as joint lead arrangers and joint bookrunners.

Jeff Taylor, Senior Vice President and Chief Financial Officer, said, "Wabash National's strong business performance, robust industry outlook, and solid financial position provide the opportunity to take this action as part of our ongoing commitment to prudently manage the overall financial risks of the Company and strengthen shareholder value. We believe this new facility and the terms we seek to obtain will lower our balance sheet risk well into the future and provide the flexibility to execute our capital allocation strategy of maintaining strong liquidity, deleveraging our balance sheet, returning capital to shareholders, and investing in the business, both organically and strategically.

Headquartered in Lafayette, Indiana, Wabash National Corporation is a diversified industrial manufacturer and North America's leading producer of semi-trailers and liquid transportation systems. Established in 1985, the Company specializes in the design and production of dry freight vans, refrigerated vans, platform trailers, liquid tank trailers, intermodal equipment, engineered products, and composite products.