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AI brief of an SEC Form 8-K · Werner Enterprises (WERN)

Werner Enterprises amends receivables loan facility of up to $300 million with TD Bank

Neutral Impact 3 of 5 financing Written later

Werner Enterprises' special purpose subsidiary, Werner Receivables Company, entered a Loan and Security Agreement dated March 27, 2025, with TD Bank as administrative agent and various lenders. The facility allows borrowing of up to $300 million in cash, with a possible increase to $350 million, secured by eligible receivables, and it is scheduled to run three years.

Key points

  • Maximum funding available to Werner Receivables Company is $300 million in cash proceeds, which may increase to $350 million with lender approval
  • Interest is based on a commercial paper rate or term SOFR, plus an adder
  • Lender obligations are scheduled to terminate in three years from March 27, 2025, unless extended
  • Werner Enterprises acts as initial servicer and collects receivables on behalf of the subsidiary

The filing

CompanyWerner Enterprises (WERN)
Form8-K, current report
Filed with the SECApr 1, 2025, 5:46 PM ET
Accession number0000793074-25-000019

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:57 AM ET, from the text of the filing and its press-release exhibits 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 April 01, 2025.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.