GREENWICH, Conn. – August 12, 2016 – XPO Logistics, Inc. (“XPO” or the “Company”) (NYSE: XPO) today announced the pricing of its previously announced issuance of $535.0 million of senior notes due 2023. The closing of the private placement offering is expected to occur on August 25, 2016, subject to customary closing conditions.
The notes will bear interest at a rate of 6.125% payable semiannually, in cash in arrears on March 1 and September 1 of each year, commencing on March 1, 2017 and maturing on September 1, 2023. XPO 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 to the incremental term loan facility described below. If consummated, these transactions would effectively extend the average maturity of the Company’s indebtedness.
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