XPO readies unsecured, secured debt to refinance term loan

By Abigail W. Adams and Sara Rosenberg

Portland, Me., May 15 – XPO Inc. is readying the issuance of $830 million of secured and $450 million of unsecured notes as part of refinancing transactions for its $2 billion term loan facility, according to market sources.

The refinancing transactions also include a $700 million term loan B due May 2028 that is talked at SOFR plus 200 basis points to 225 bps with a 0% floor and an original issue discount of 99.

Goldman Sachs Bank USA, Citigroup Global Markets Inc., BofA Securities Inc., Morgan Stanley Senior Funding Inc. and Credit Agricole are the arranging the term loan deal with commitments due Thursday.

Proceeds will be used to refinance the approximately $2 billion term loan F due 2025.

XPO is a Greenwich, Conn.-based provider of freight transportation services.

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