secwatch.observer — SEC 8-K summary
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Issuer:     SAIA INC (SAIA)
CIK:        0001177702
Form:       8-K
Filed at:   2023-11-15T23:59:59+00:00
Accession:  0000950170-23-064199
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Saia enters into $350M private shelf agreement with Prudential; initial $100M at 6.09% due 2028
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- Initial $100M senior notes at 6.09% per annum, maturity 5 years from issuance (on or before Aug 2, 2024).
- Total shelf capacity $350M; additional notes up to 12-year maturity, issuable through Nov 9, 2026.
- Proceeds to refinance existing debt, fund capex, working capital, and general corporate purposes.
- Covenant requires consolidated net lease adjusted leverage ratio below 3.50x; standard restrictions on liens and dividends.
- Notes prepayable at 100% plus Make Whole; customary events of default with acceleration provision.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1177702/000095017023064199/0000950170-23-064199-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1177702/000095017023064199/saia-20231109.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-064199

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