---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-023518"
form_type: "8-K"
ticker: "WKC"
cik: "0000789460"
company_name: "WORLD KINECT CORP"
filed_at: "2023-06-27T23:59:59+00:00"
generated_at: "2026-06-13T16:40:37.113076+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# World Kinect issues $350M of 3.250% convertible notes due 2028; hedges dilution

## Summary
- Issued $300M initial plus $50M option-exercise notes; 3.250% coupon, maturity July 1, 2028.
- Initial conversion price ~$28.43 per share; conversion rate 35.1710 shares per $1,000 principal.
- Entered convertible note hedge and warrant transactions covering ~12.3M shares each; warrant strike $40.14.
- Net proceeds ~$336.5M; used $50M to repurchase 2.24M shares at $22.30 per share.
- Remaining proceeds earmarked for revolving credit facility repayment and general corporate purposes.

## SEC filing metadata
- accession: 0001628280-23-023518
- form_type: 8-K
- ticker: WKC
- cik: 0000789460
- company_name: WORLD KINECT CORP
- filed_at: 2023-06-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/789460/000162828023023518/0001628280-23-023518-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/789460/000162828023023518/int-20230621.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-023518
- JSON: https://secwatch.observer/filing/0001628280-23-023518.json
- Plain text: https://secwatch.observer/filing/0001628280-23-023518.txt

## Key facts
- Debt Financings
  WORLD KINECT CORP incurred convertible notes of $300 million aggregate principal amount with Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several initial purchasers at 3.250% maturing July 1, 2028.
  - Instrument: convertible notes
  - Principal: $300 million aggregate principal amount
  - Counterparty: Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several initial purchasers
  - Rate: 3.250%
  - Maturity: July 1, 2028
  - Event: incurrence
  source text: Inc., as representatives of the several initial purchasers named on Schedule I thereto (the “Initial Purchasers”), pursuant to which the Company agreed to issue and sell $300 million aggregate principal amount of its 3.250% Convertible Senior Notes due 2028 (the “Initial Notes”). In addition, the Company granted the Initial Purchasers an option to purchase up
  evidence_url: https://www.sec.gov/Archives/edgar/data/789460/000162828023023518/0001628280-23-023518-index.htm
- Material Agreements
  WORLD KINECT CORP entered into Purchase Agreement with Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several initial purchasers valued at $300 million aggregate principal amount (effective 2023-06-21).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several initial purchasers
  - Value: $300 million aggregate principal amount
  - Effective: 2023-06-21
  source text: On June 21, 2023, World Kinect Corporation (the “Company”) entered into a Purchase Agreement (the “Purchase Agreement”) with Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several initial purchasers named on Schedule I thereto (the “Initial Purchasers”), pursuant to which the Company agreed to issue and sell $300 million aggregate principal amount of its 3.250% Convertible Senior Notes due 2028
  evidence_url: https://www.sec.gov/Archives/edgar/data/789460/000162828023023518/0001628280-23-023518-index.htm
- Material Agreements
  WORLD KINECT CORP entered into Indenture with U.S. Bank Trust Company, National Association (effective 2023-06-26).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Effective: 2023-06-26
  source text: On June 26, 2023, the Company entered into an indenture (the “Indenture”) governing the terms of the Notes, between the Company and U.S. Bank Trust Company, National Association, as trustee
  evidence_url: https://www.sec.gov/Archives/edgar/data/789460/000162828023023518/0001628280-23-023518-index.htm

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