Knight-Swift Transportation Holdings Inc. (KNX): debt financing — Knight-Swift enters $2.5B unsecured credit facility, replacing $2.3B revolver and $250M term loan

Knight-Swift Transportation Holdings Inc.

New facility includes $1.5B revolver ($672M drawn at close), $700M term loan A-1 (maturing July 2030), and $300M term loan A-2 (maturing Jan 2027).
Interest rates: SOFR+1.55% for revolver and term A-1; SOFR+1.425% for term A-2, each subject to leverage-based grids.
Proceeds from new loans and $8.4M cash paid off $1.07B outstanding under old 2021 revolver/term loans and $250M 2023 term loan, plus fees.
Old facilities were scheduled to mature Sept 2026; new facility extends maturities to 2027/2030 with no scheduled principal on revolver or term A-2.

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

Knight-Swift Transportation Holdings Inc. incurred credit facility of $2.5 billion with Bank of America, N.A. as Administrative Agent, Swingline Lender, and Issuing Lender and PNC Capital Markets, LLC and Wells Fargo Bank, National Association as Co-Syndication Agents at SOFR plus 1.55% for the 2025 Revolver and 2025 Term Loan A-1 and SOFR plus 1.425 maturing July 8, 2030 (2025 Revolver and 2025 Term Loan A-1); January 8, 2027 (2025 Term Loan A-2).

Instrument: credit facility
Principal: $2.5 billion
Counterparty: Bank of America, N.A. as Administrative Agent, Swingline Lender, and Issuing Lender and PNC Capital Markets, LLC and Wells Fargo Bank, National Association as Co-Syndication Agents
Rate: SOFR plus 1.55% for the 2025 Revolver and 2025 Term Loan A-1 and SOFR plus 1.425
Maturity: July 8, 2030 (2025 Revolver and 2025 Term Loan A-1); January 8, 2027 (2025 Term Loan A-2)
Event: incurrence

Exact text from the filing

On July 8, 2025 (the "Closing Date"), Knight-Swift Transportation Holdings Inc. (the "Company") entered into a $2.5 billion unsecured credit facility with the lenders thereto, Bank of America, N.A. as Administrative Agent, Swingline Lender, and Issuing Lender and PNC Capital Markets, LLC and Wells Fargo Bank, National Association as Co-Syndication Agents (the "2025 Debt Agreement")

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Source: SEC EDGAR

accession 0001492691-25-000053

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