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.

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