• Knight-Swift launched private placement of USD 1 billion Convertible Senior Notes due 2031 under Rule 144A, with initial purchasers able to buy up to an additional USD 150 million.
• Proceeds earmarked for capped call transactions, repayment of USD 300 million term loan due 2027, repayment of USD 400 million of term loan due 2030, with any remainder used to pay down revolving credit borrowings.
• Notes are unregistered, with any shares issuable on conversion also unregistered under Securities Act.

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