Swift Holdings Seeks To Raise $700M In IPO

Law360, New York (July 22, 2010, 4:22 PM EDT) -- Trucking company Swift Holdings Corp. aims to raise up to $700 million in an initial public offering of stock in a move to collect funds for paying off debt.

The Phoenix-based firm filed its plans with the U.S. Securities and Exchange Commission on Wednesday, indicating that the net proceeds of the offering will be used to repay a portion of its existing senior secured credit facility and for general corporate purposes.

Swift said the number of shares to be offered and the price range for the...
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