Swift Transportation launches repricing of $660 million term loans

By Sara Rosenberg

New York, Feb. 25 - Swift Transportation Co. launched a repricing of $660 million in term loan debt on Monday, according to a market source.

The company is looking to reprice a $202 million term loan B-1 due 2016 at Libor plus 275 basis points with no Libor floor from Libor plus 375 bps with no floor, and a $458 million term loan B-2 due 2017 at Libor plus 300 bps with a 1% Libor floor from Libor plus 375 bps with a 1.25% Libor floor, the source said.

Both repriced loans are being offered at par and have 101 soft call protection for six months.

BofA Merrill Lynch, Morgan Stanley Senior Funding Inc. and Wells Fargo Securities LLC are the lead banks on the deal.

Swift is a Phoenix-based transportation services company and truckload carrier.

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