2023-05-17 08:45:05 ET
- XPO ( NYSE: XPO ) intends to offer through one or more private placements $830M in aggregate principal amount of senior secured notes due 2028 and $450M in aggregate principal amount of senior unsecured notes due 2031.
- The Notes are being offered in addition to the previously announced proposed $700M senior secured term loan facility.
- The Co. intends to use the net proceeds and cash on hand, to repay term loan principal and accrued interest outstanding under its existing secured term loan facility and to pay fees, costs and expenses relating to the Notes and New Term Loan Facility.
- The remaining portion of the Existing Term Loan is expected to be repaid with cash on hand in Q2 2023.
For further details see:
XPO announces proposed private offering of senior secured, unsecured notes