Loan & DebtJun 10, 2026, 04:13 PM
Werner Enterprises Increases Funding Limit to $350M, up to $400M
AI Summary
Werner Enterprises' wholly-owned subsidiary, Werner Receivables Company, LLC (WRC), amended its Loan and Security Agreement, increasing its maximum funding limit to $350 million, with a potential increase to $400 million. This is an increase from the previous limit of $325 million, which could have increased to $350 million. Concurrently, Werner Enterprises provided an unconditional and irrevocable performance guaranty for WRC's obligations under the agreement, creating a direct financial obligation for the company.
Key Highlights
- Werner Receivables Company (WRC) maximum funding limit increased to $350 million under the Loan and Security Agreement.
- The funding limit may increase further to $400 million upon WRC's request and lender acceptance.
- The previous maximum funding limit was $325 million, with a potential increase to $350 million.
- Werner Enterprises provided an unconditional, irrevocable Performance Guaranty for WRC's obligations.
- The guaranty covers monetary and non-monetary obligations of WRC and the servicer under the LSA.
Price Impact
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