XPO Logistics Announces Closing of $2 Billion Term Loan Refinancing

XPO Logistics, Inc. (“XPO” or the “company”) (NYSE: XPO) today announced the refinancing of $2.0 billion of existing term loan facilities to, among other things, reduce the applicable interest rate.

The existing $1.5 billion term B facility, which bore interest at a rate of LIBOR plus 2.00%, and the existing $500 million term B-1 facility, which bore interest at a rate of LIBOR plus 2.50%, were refinanced with proceeds from a new $2.0 billion term loan facility that bears interest at a rate of LIBOR plus 1.75% (the LIBOR floor remains unchanged at 0.00%). The maturity date of the new loan facility remains at February 23, 2025, and the terms of the new loan facility are substantially consistent with the refinanced facilities.

Brad Jacobs, chairman and chief executive officer of XPO Logistics, said, “We’re continuing to take opportunistic actions that enhance our balance sheet. We estimate that this $2 billion refinancing, together with the $1.2 billion of debt we paid down in January, will reduce our annual interest expense by $86 million.”

Morgan Stanley, Goldman Sachs, Barclays, Citigroup, Credit Agricole, Credit Suisse, Deutsche Bank and Wells Fargo served as joint bookrunners, and Wachtell, Lipton, Rosen & Katz acted as legal advisor on the transaction.

About XPO Logistics

XPO Logistics, Inc. (NYSE: XPO) provides cutting-edge supply chain solutions to the most successful companies in the world. The company is the second largest contract logistics provider and the second largest freight broker globally, and a top three less-than-truckload provider in North America. XPO uses a highly integrated network of 1,629 locations and over 100,000 employees in 30 countries to help more than 50,000 customers manage their supply chains most efficiently. The company’s corporate headquarters are in Greenwich, Conn., USA, and its European headquarters are in Lyon, France. Visit xpo.com for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Investor Contact

XPO Logistics, Inc.
Tavio Headley
+1-203-413-4006
tavio.headley@xpo.com

Media Contact

XPO Logistics, Inc.
Joe Checkler
+1-203-423-2098
joe.checkler@xpo.com