---
schema_version: "secwatch.filing_event.v1"
accession: "0001492691-23-000058"
form_type: "8-K"
ticker: "KNX"
cik: "0001492691"
company_name: "Knight-Swift Transportation Holdings Inc."
filed_at: "2023-06-27T23:59:59+00:00"
generated_at: "2026-06-13T16:13:10.541055+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Knight-Swift enters $250M unsecured term loan to fund U.S. Xpress acquisition

## Summary
- Knight-Swift entered a $250M unsecured term loan on June 22, 2023, to fund its acquisition of U.S. Xpress Enterprises.
- Loan matures Sept 3, 2026; interest rate at SOFR + 0.10% + 1.375% (leverage-based grid); no scheduled principal payments.
- Agreement automatically terminates on Dec 20, 2023, if the U.S. Xpress acquisition is not consummated.
- Lenders include Bank of America, PNC Bank, and Wells Fargo; terms similar to existing $2.3B credit facility.

## SEC filing metadata
- accession: 0001492691-23-000058
- form_type: 8-K
- ticker: KNX
- cik: 0001492691
- company_name: Knight-Swift Transportation Holdings Inc.
- filed_at: 2023-06-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1492691/000149269123000058/0001492691-23-000058-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1492691/000149269123000058/knx-20230622.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001492691-23-000058
- JSON: https://secwatch.observer/filing/0001492691-23-000058.json
- Plain text: https://secwatch.observer/filing/0001492691-23-000058.txt

## Key facts
- Debt Financings
  Knight-Swift Transportation Holdings Inc. incurred term loan of $250 million with Bank of America, N.A. as Administrative Agent; PNC Bank National Association and Wells Fargo Bank, National Association as Lenders and Co-Syndication Agents at SOFR plus the 0.10% SOFR adjustment plus 1.375% maturing September 3, 2026.
  - Instrument: term loan
  - Principal: $250 million
  - Counterparty: Bank of America, N.A. as Administrative Agent; PNC Bank National Association and Wells Fargo Bank, National Association as Lenders and Co-Syndication Agents
  - Rate: SOFR plus the 0.10% SOFR adjustment plus 1.375%
  - Maturity: September 3, 2026
  - Event: incurrence
  source text: On June 22, 2023 (the "Closing Date"), Knight-Swift Transportation Holdings Inc. (the "Company") entered into a $250 million unsecured credit facility with the lenders thereto, Bank of America, N.A. as Administrative Agent and PNC Bank National Association and Wells Fargo Bank, National Association as Lenders and Co-Syndication Agents (the "2023 Term Loan Agreement").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492691/000149269123000058/0001492691-23-000058-index.htm
- Material Agreements
  Knight-Swift Transportation Holdings Inc. entered into 2023 Term Loan Agreement with Bank of America, N.A. as Administrative Agent and PNC Bank National Association and Wells Fargo Bank, National Association as Lenders and Co-Syndication Agents valued at $250 million (effective 2023-06-22).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A. as Administrative Agent and PNC Bank National Association and Wells Fargo Bank, National Association as Lenders and Co-Syndication Agents
  - Value: $250 million
  - Effective: 2023-06-22
  source text: On June 22, 2023 (the "Closing Date"), Knight-Swift Transportation Holdings Inc. (the "Company") entered into a $250 million unsecured credit facility with the lenders thereto, Bank of America, N.A. as Administrative Agent and PNC Bank National Association and Wells Fargo Bank, National Association as Lenders and Co-Syndication Agents (the "2023 Term Loan Agreement").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492691/000149269123000058/0001492691-23-000058-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.