Knight-Swift increases receivables borrowing capacity to $575M from $475M

Knight-Swift Transportation Holdings Inc.

Swift Receivables Co. II entered Seventh Amendment raising facility limit by $100M to $575M.
Facility is a revolving sale of undivided interests in eligible accounts receivable to purchasers.
Collections on underlying receivables are held for benefit of purchasers, not available to satisfy company claims.
Parties include SRCII as seller, Swift Transportation Services as servicer, and PNC Bank as administrator.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Knight-Swift Transportation Holdings Inc. amended Seventh Amendment to Amended and Restated Receivables Purchase Agreement with PNC Bank, National Association (effective 2023-10-23).

Action: amendment
Agreement: credit facility
Counterparty: PNC Bank, National Association
Effective: 2023-10-23

Exact text from the filing

On October 23, 2023, Swift Receivables Company II, LLC ("SRCII"), a wholly-owned subsidiary of Knight-Swift Transportation Holdings Inc. (the "Company"), entered into the Seventh Amendment to Amended and Restated Receivables Purchase Agreement (the "2023 Receivables Purchase Agreement"), which further amends its Amended and Restated Receivables Purchase Agreement, dated June 14, 2013.

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Knight-Swift Transportation Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001492691-23-000087

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