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Get filing alertsSchneider National doubles receivables facility to $400M, extends term to 2029
Filed October 2, 2026 · Period ending September 30, 2026 · ~1 min read
Key Changes
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Amended receivables purchase agreement increases available commitments from $200 million to $400 million.
Item 1.01 verify on EDGAR → -
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Letter of credit sublimit raised from $150 million to $250 million.
Item 1.01 verify on EDGAR → -
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Facility maturity extended to September 28, 2029, reducing near-term refinancing risk.
Item 1.01 verify on EDGAR → -
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Eligibility criteria for trade receivables adjusted to increase borrowing availability.
Item 1.01 verify on EDGAR → -
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Financial covenants include minimum consolidated net worth, net debt coverage, and interest coverage ratios.
Item 1.01 verify on EDGAR →
Summary
Schneider National's receivables subsidiary amended its receivables purchase agreement, doubling total commitments to $400 million and extending the maturity to September 2029. The letter of credit sublimit also increased to $250 million, and eligibility criteria were adjusted to allow more receivables to be borrowed against. The amended facility includes financial covenants on net worth, net debt coverage, and interest coverage, with the net worth covenant potentially dropping away if other material debt lacks such a covenant.
The company also filed this under Item 2.03, reporting the arrangement as a direct financial obligation. For retail holders, this is a routine liquidity management action that provides longer-term committed financing and modestly expands borrowing capacity.
Section-by-Section Diff
Event · Item 2.03 — Creation of a Direct Financial Obligation
Item 2.03 also reports this as a direct financial obligation (body incorporates the primary Item by reference).
Added in current filing · verify on EDGAR →
Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K relating to the 2026 Amendment and the 2026 Receivables Purchase Agreement is
The company also filed this under Item 2.03, which means it is reporting the arrangement as a direct financial obligation. The Item 2.03 text refers back to the Item 1.01 entry for the terms rather than restating them.
Event · Item 1.01 — Entry into a Material Definitive Agreement
Schneider's receivables subsidiary amends its $400M facility: commitments double to $400M, LC sublimit to $250M, term extended to 2029.
Added in current filing · verify on EDGAR →
adjust eligibility criteria relating to trade accounts receivables to increase availability of the receivables facility
The amendment loosens eligibility rules for trade receivables, which should increase the amount of receivables that can be borrowed against under the facility.
Added in current filing · verify on EDGAR →
required minimum consolidated net worth (subject to termination when the terms of other material debt of Schneider or its subsidiaries does not contain a consolidated net worth covenant), consolidated net debt coverage ratio, consolidated interest coverage ratio (effective upon termination of the consolidated net worth covenant as described above)
The amended agreement includes financial covenants on minimum consolidated net worth, net debt coverage, and interest coverage, with the net worth covenant potentially dropping away if other material debt lacks such a covenant.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 5, 2026 · How we verify