Knight-Swift refinances debt with $2.5 billion unsecured credit facility
On July 8, 2025, Knight-Swift entered a $2.5 billion unsecured credit facility that replaced its previous $2.3 billion facility and $250 million term loan, which were paid off at closing. The company drew $672.0 million on the new $1.5 billion revolver at closing, and the filing says the new terms are substantially similar to the prior agreement. The change extends debt maturities from September 3, 2026 to 2027 and 2030 for the new facilities.
Key points
- $2.5 billion unsecured credit facility dated July 8, 2025, with Bank of America as administrative agent.
- $672.0 million drawn on the $1.5 billion revolver at closing; revolver and $700.0 million Term Loan A-1 mature July 8, 2030; $300.0 million Term Loan A-2 matures January 8, 2027.
- Prior $2.3 billion facility and $250 million term loan repaid using new loan proceeds and $8.4 million of cash on hand.
- Interest at SOFR plus 1.55% (revolver and A-1) or SOFR plus 1.425% (A-2) as of closing, with leverage-based pricing grids and covenants on net leverage and interest coverage.
The filing
Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 14, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.