WERNER ENTERPRISES INC (WERN): debt financing — Werner Enterprises enters $300M receivables credit facility with TD Bank as agent

WERNER ENTERPRISES INC

Maximum funding of $300M, increases to $350M subject to lender acceptance; 3-year term.
Facility secured by eligible receivables; Werner is initial servicer and direct parent of borrower.
Interest based on commercial paper rate or term SOFR plus an adder.
Borrower is bankruptcy-remote Werner Receivables Company, LLC; proceeds fund receivable purchases.
Lender commitments scheduled to terminate in 3 years unless extended by parties.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

WERNER ENTERPRISES INC incurred credit facility of $300 million with The Toronto-Dominion Bank at commercial paper rate or a term secured overnight financing rate (SOFR), plus an maturing three years from the date of the LSA.

Instrument: credit facility
Principal: $300 million
Counterparty: The Toronto-Dominion Bank
Rate: commercial paper rate or a term secured overnight financing rate (SOFR), plus an
Maturity: three years from the date of the LSA
Event: incurrence

Exact text from the filing

Werner Receivables Company, LLC (“WRC”) is a party to a Loan and Security Agreement dated March 27, 2025 (the “LSA”) together with various lenders and group agents (“Lenders”), The Toronto-Dominion Bank (“TD Bank”) as administrative agent, and Werner Enterprises, Inc.

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Source: SEC EDGAR

accession 0000793074-25-000019

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