XPO Logistics set to redeem all 7 7/8% notes due 2019 on Sept. 12

By Wendy Van Sickle

Columbus, Ohio, Aug. 26 – XPO Logistics Inc. plans to redeem all of its outstanding 7 7/8% senior notes due 2019 on Sept. 12, according to an 8-K filing with the Securities and Exchange Commission.

The redemption price will be 103.938 plus accrued interest to, but excluding, the redemption date.

As previously reported, on Aug. 11 the issuer announced plans to redeem some or all of the notes using proceeds of new notes and bank loans.

The redemption was conditioned upon XPO issuing $535 million of senior notes due 2023 under Rule 144A and Regulation S and entering into a $400 million incremental term loan facility, which both occurred Thursday.

XPO is a Greenwich, Conn.-based provider of supply chain solutions.

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