HUNT J B TRANSPORT SERVICES INC Debt Disclosure

3.	Financing Arrangements

 

Outstanding borrowings, net of unamortized discount and unamortized debt issuance cost under our current financing arrangements consist of the following (in millions):

 

		December 31,
		2025				2024
Senior credit facility		$	23.6			$	778.7
Senior notes			1,443.2				699.0
Less current portion of long-term debt			(699.9	)			(500.0	)
Total long-term debt		$	766.9			$	977.7

 

 

Aggregate maturities of long-term debt subsequent to December 31, 2025, are as follows: $699.9 million in 2026 and $766.9 million in 2030.

 

Senior Credit Facility

 

At December 31, 2025, we were authorized to borrow up to $1.7 billion through a revolving line of credit and committed term loans, pursuant to a credit agreement with a group of banks. The revolving line of credit authorizes us to borrow up to $1.0 billion under a five-year term expiring November 2030, and allows us to request an increase in the revolving line of credit total commitment by up to $400 million and to request two one-year extensions of the maturity date. The committed term loans authorize us to borrow up to an additional $700 million during the six-month period beginning November 25, 2025, and if funded, will mature in November 2028. The applicable interest rates under this agreement are based on either the Secured Overnight Financing Rate (SOFR), or a Base Rate, depending upon the specific type of borrowing, plus an applicable margin and other fees. At December 31, 2025, we had $26.8 million outstanding on the revolving line of credit, at an average interest rate of 4.62%, under this agreement.

 

 

Senior Notes

 

Our senior notes consist of two separate issuances. The first is $700 million of 3.875% senior notes due March 2026, issued in March 2019. Interest payments under these notes are due semiannually in March and September of each year, beginning September 2019. The second is $750 million of 4.90% senior notes due March 2030, issued in March 2025. Interest payments under these notes are due semiannually in March and September of each year beginning September 2025. Both senior notes were issued by J.B. Hunt Transport Services, Inc., a parent-level holding company with no significant assets or operations. The notes are guaranteed on a full and unconditional basis by a wholly-owned subsidiary. All other subsidiaries of the parent are minor. We registered these offerings and the sale of the notes under the Securities Act of 1933, pursuant to shelf registration statements filed in January 2019 and February 2023, respectively. Both notes are unsecured obligations and rank equally with our existing and future senior unsecured debt. We may redeem for cash some or all of the notes based on a redemption price set forth in the note indenture.

 

Our financing arrangements require us to maintain certain financial covenants and ratios.  We were in compliance with all financial covenants and ratios at December 31, 2025.