UPDATE 1-New Century Transportation files for $120 mln IPO

* Says plans to use proceeds to pay debt

* Says to list shares under the symbol "NCTX" on Nasdaq

* Says plans to enter into a new $60 mln credit facility

Aug 11 (Reuters) - Motor carrier New Century Transportation Inc filed with U.S. securities regulators on Wednesday to raise up to $120 million in an initial public offering of common stock.

The Westampton, New Jersey-based company plans to use the net proceeds to pay outstanding debt but did not reveal the number of shares it would sell.

The company said it intends to be listed under the ticker symbol "NCTX" on Nasdaq.

New Century also said it intends to enter into a new $60 million senior secured credit facility. (Reporting by Swati Chitnis in Bangalore; Editing by Unnikrishnan Nair)