--- schema_version: "secwatch.filing_event.v1" accession: "0000793074-22-000062" form_type: "8-K" ticker: "WERN" cik: "0000793074" company_name: "WERNER ENTERPRISES INC" filed_at: "2022-12-23T23:59:59+00:00" generated_at: "2026-06-20T23:43:51.499587+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # Werner Enterprises enters $1.075B credit facility, borrows $600M at 5.67% ## Summary - New $1.075B unsecured credit facility replaces prior $700M in facilities (BMO line, Wells line, term loan). - Borrowed $600M at 5.67% (1-month SOFR + 0.10% + 1.25% margin); maturity Dec 20, 2027. - Outstanding debt $693.8M including $93.8M fixed-rate term loan at 1.28% with BMO. - Remaining borrowing capacity $416.2M after $600M draw and $58.8M in letters of credit. ## SEC filing metadata - accession: 0000793074-22-000062 - form_type: 8-K - ticker: WERN - cik: 0000793074 - company_name: WERNER ENTERPRISES INC - filed_at: 2022-12-23T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 1.01, 1.02, 2.03 - EDGAR index: https://www.sec.gov/Archives/edgar/data/793074/000079307422000062/0000793074-22-000062-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/793074/000079307422000062/wern-20221220.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000793074-22-000062 - JSON: https://secwatch.observer/filing/0000793074-22-000062.json - Plain text: https://secwatch.observer/filing/0000793074-22-000062.txt ## Key facts - Debt Financings WERNER ENTERPRISES INC incurred credit facility of $1.075 billion with Wells Fargo Bank, National Association as Administrative Agent, Swingline Lender, and Issuing Lender, BMO Harris Bank N.A. as Syndication Agent, The Toronto-Dominion Bank as Documentation Agent, and The Huntington National Bank as Co-Agent at 5.67%, based on the one-month Secured Overnight Financing Rate ("SOFR") plus 0.1 maturing December 20, 2027. - Instrument: credit facility - Principal: $1.075 billion - Counterparty: Wells Fargo Bank, National Association as Administrative Agent, Swingline Lender, and Issuing Lender, BMO Harris Bank N.A. as Syndication Agent, The Toronto-Dominion Bank as Documentation Agent, and The Huntington National Bank as Co-Agent - Rate: 5.67%, based on the one-month Secured Overnight Financing Rate ("SOFR") plus 0.1 - Maturity: December 20, 2027 - Event: incurrence source text: On December 20, 2022, Werner Enterprises, Inc. (the "Company") entered into a $1.075 billion unsecured credit facility with the lenders thereto, Wells Fargo Bank, National Association as Administrative Agent, Swingline Lender, and Issuing Lender, BMO Harris Bank N.A. as Syndication Agent, The Toronto-Dominion Bank as Documentation Agent, and The Huntington National Bank as Co-Agent, (the "2022 Credit Agreement") evidence_url: https://www.sec.gov/Archives/edgar/data/793074/000079307422000062/0000793074-22-000062-index.htm - Material Agreements WERNER ENTERPRISES INC terminated BMO Line of Credit with BMO Harris Bank N.A. valued at $300 million (effective 2022-12-20). - Action: termination - Agreement: credit facility - Counterparty: BMO Harris Bank N.A. - Value: $300 million - Effective: 2022-12-20 source text: Concurrently with entering into the 2022 Credit Agreement on December 20, 2022, the Company paid off and terminated the BMO Line of Credit, Wells Line of Credit, and Wells Term Loan, which were each scheduled to mature on May 14, 2024. evidence_url: https://www.sec.gov/Archives/edgar/data/793074/000079307422000062/0000793074-22-000062-index.htm - Material Agreements WERNER ENTERPRISES INC terminated Wells Term Loan with Wells Fargo Bank, National Association valued at $100 million (effective 2022-12-20). - Action: termination - Agreement: credit facility - Counterparty: Wells Fargo Bank, National Association - Value: $100 million - Effective: 2022-12-20 source text: Concurrently with entering into the 2022 Credit Agreement on December 20, 2022, the Company paid off and terminated the BMO Line of Credit, Wells Line of Credit, and Wells Term Loan, which were each scheduled to mature on May 14, 2024. evidence_url: https://www.sec.gov/Archives/edgar/data/793074/000079307422000062/0000793074-22-000062-index.htm - Material Agreements WERNER ENTERPRISES INC entered into 2022 Credit Agreement with Wells Fargo Bank, National Association as Administrative Agent, Swingline Lender, and Issuing Lender, BMO Harris Bank N.A. as Syndication Agent, The Toronto-Dominion Bank as Documentation Agent, and The Huntington National Bank as Co-Agent valued at $1.075 billion (effective 2022-12-20). - Action: entry - Agreement: credit facility - Counterparty: Wells Fargo Bank, National Association as Administrative Agent, Swingline Lender, and Issuing Lender, BMO Harris Bank N.A. as Syndication Agent, The Toronto-Dominion Bank as Documentation Agent, and The Huntington National Bank as Co-Agent - Value: $1.075 billion - Effective: 2022-12-20 source text: On December 20, 2022, Werner Enterprises, Inc. (the "Company") entered into a $1.075 billion unsecured credit facility with the lenders thereto, Wells Fargo Bank, National Association as Administrative Agent, Swingline Lender, and Issuing Lender, BMO Harris Bank N.A. as Syndication Agent, The Toronto-Dominion Bank as Documentation Agent, and The Huntington National Bank as Co-Agent, (the "2022 Credit Agreement"), replacing the Company's previous $300 million unsecured credit facility with BMO Harris Bank N.A. (the "BMO Line of Credit") and the credit agreement with Wells Fargo Bank, National Association, consisting of a $300 million unsecured credit facility (the "Wells Line of Credit") and a $100 million unsecured term loan (the "Wells Term Loan"). evidence_url: https://www.sec.gov/Archives/edgar/data/793074/000079307422000062/0000793074-22-000062-index.htm - Material Agreements WERNER ENTERPRISES INC terminated Wells Line of Credit with Wells Fargo Bank, National Association valued at $185 million (effective 2022-12-20). - Action: termination - Agreement: credit facility - Counterparty: Wells Fargo Bank, National Association - Value: $185 million - Effective: 2022-12-20 source text: Concurrently with entering into the 2022 Credit Agreement on December 20, 2022, the Company paid off and terminated the BMO Line of Credit, Wells Line of Credit, and Wells Term Loan, which were each scheduled to mature on May 14, 2024. evidence_url: https://www.sec.gov/Archives/edgar/data/793074/000079307422000062/0000793074-22-000062-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.