Knight-Swift prices upsized USD 1.3 billion convertible senior notes offering

Knight-Swift Transportation

KNX

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Knight-Swift priced an upsized USD 1.3 billion private offering of 1% Convertible Senior Notes due 2031, raising deal size from USD 1 billion.
Initial purchasers received a 13-day option to buy up to an additional USD 200 million of notes, taking potential total issuance to USD 1.5 billion.
Closing expected May 8, 2026.
Net proceeds estimated at about USD 1.27 billion, earmarked for capped call costs of about USD 92.8 million, repayment of USD 300 million term loan due 2027, partial paydown of term loan due 2030, reduction of revolver borrowings.

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