Knight-Swift Transportation Holdings Inc. Announces Pricing of Upsized $1.3 Billion Offering of Convertible Senior Notes
Knight-Swift Transportation priced an upsized $1.3 billion offering of 1.00% Convertible Senior Notes due 2031, increasing the deal size from the previously announced $1.0 billion. Net proceeds of approximately $1.27 billion will be used to repay $300 million of its term loan due 2027, $400 million of its term loan due 2030, revolver debt, and $92.8 million for capped call transactions to offset dilution.
Key figures
- Deal Value Usd
- 1300000000
- Coupon rate
- 1.00%
- Cap price usd
- 104.75
- Net proceeds usd
- 1270000000
- Option amount usd
- 200000000
- Gross proceeds usd
- 1300000000
- Cap premium percent
- 70
- Capped call cost usd
- 92800000
- Conversion price usd
- 80.11
- Conversion premium percent
- 30
- Net proceeds with option usd
- 1460000000
- Repayment 2027 term loan usd
- 300000000
- Repayment 2030 term loan usd
- 400000000
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.