ODFL · 10-Q · 2026Q2 · Full report

Interest Rate Environment

OLD DOMINION FREIGHT LINE, INC. · 2026-08-05 · Importance 19 · Surprise 6

The company’s Series B Notes carry a fixed 3.10% interest rate and mature in May 2027, limiting near-term exposure to rate changes on that debt. Variable-rate exposure is limited to the Credit Agreement, whose borrowings bear interest at SOFR plus a 0.100% Term SOFR Adjustment and an applicable margin of 1.000% to 1.375%, or at a Base Rate plus a margin of 0.000% to 0.375%. Old Dominion does not use interest-rate derivatives to manage this exposure.

Key facts

• For periods covered under the Credit Agreement, the applicable margin on SOFR loans and letter of credit fees were 1.000% and commitment fees were 0.090%. source
• The interest rate is fixed on the Series B Notes; short-term exposure to fluctuations in interest rates is limited to the Credit Agreement and we do not currently use interest rate derivative instruments. source