XPO Announces Proposed Term Loan Refinancing Transaction

GREENWICH, Conn., May 15, 2023 (GLOBE NEWSWIRE) -- XPO, Inc. (“XPO” or the “company”) (NYSE:  XPO) today announced that it intends to refinance a portion of its existing senior secured term loan facility due February 2025 with approximately $700 million of new senior secured term loans maturing in 2028 (the “Term Loan Refinancing”). In connection with the Term Loan Refinancing, XPO anticipates refinancing additional amounts outstanding under its existing senior secured term loan facility and paying related fees, expenses and accrued interest with the proceeds of approximately $830 million of additional senior secured debt and approximately $450 million of additional senior unsecured debt, subject to market and other conditions. The remaining portion of XPO’s existing term loans are expected to be repaid with cash on hand in the second quarter of 2023. 

Read more at globenewswire.com