XPO Logistics Announces Private Offering of $535 Million Senior Notes

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GREENWICH, Conn. – August 11, 2016 – XPO Logistics, Inc. (“XPO” or the “Company”) (NYSE:  XPO) today announced an offering of $535.0 million of senior notes due 2023.  The Company intends to use the proceeds from this offering, together with proceeds of an incremental term loan facility described below and cash on hand, to redeem and/or discharge or defease, in whole or in part, the Company’s 7.875% Senior Notes due 2019, and to pay fees and expenses related thereto and related to the offering and the incremental term loan facility described below.

The Company intends to enter into a $400.0 million incremental term loan facility (the “Incremental Facility”) under the Company’s existing term loan credit agreement, subject to certain customary conditions. The terms of the Incremental Facility are expected to be substantially similar to those relating to the loans outstanding under the Company’s existing term loan credit agreement, except with respect to the interest rate applicable to the Company’s borrowings under the Incremental Facility and prepayment premiums in connection with certain voluntary prepayments. The Company anticipates borrowing the loans under the Incremental Facility substantially simultaneously with the consummation of the offering of notes described above.

Read more at xpo.com

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