Schneider National, Inc. (SNDR): debt financing — Schneider National subsidiary issues $50M in 5.63% senior notes due 2028

Schneider National, Inc.

Schneider National Leasing issued $50M of 5.63% senior notes due August 30, 2028 to affiliates of PGIM.
Notes are unsecured senior obligations, prepayable at option of issuer, subject to make-whole amount.
Proceeds used for general corporate purposes, including repayment of existing debt.
Parent Schneider National and subsidiary guarantors provide guarantees; covenants include max debt/EBITDA and minimum net worth.
Uncommitted shelf facility permits up to $200M total; $150M additional availability but Prudential has no obligation.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Schneider National, Inc. incurred senior notes of $50 million with certain affiliates of PGIM, Inc. at 5.63% maturing will mature on August 30, 2028.

Instrument: senior notes
Principal: $50 million
Counterparty: certain affiliates of PGIM, Inc.
Rate: 5.63%
Maturity: will mature on August 30, 2028
Event: incurrence

Exact text from the filing

On August 30, 2023, Schneider National Leasing, Inc. (the “Issuer”), a wholly-owned subsidiary of Schneider National, Inc. (“Schneider”), issued and sold to certain affiliates of PGIM, Inc. (“Prudential”) $50 million in aggregate principal amount of the Issuer’s 5.63% Series 2023A Senior Notes Due August 30, 2028 (the “Notes”).

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Schneider National, Inc. filing history →

Source: SEC EDGAR

accession 0001692063-23-000166

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