XPO overcomes weak market to post strong Q4 earnings
American road freight operator XPO today posted 6% year-on-year revenue growth for the fourth quarter ...
Here’s the latest announcement by XPO Logistics:
On April 23, 2020, XPO Logistics, Inc. (the “Company”) announced that it intends to offer through a private placement senior notes due 2025 in an aggregate principal amount of $750 million (the “Notes”). The offering is subject to market and other conditions. The Company intends to use the net proceeds from the issuance of the Notes for general corporate purposes, which may include the repayment of amounts outstanding under our existing revolving credit facility, the repayment and/or redemption of our 6.50% Senior Notes due 2022 and/or the repayment of other existing indebtedness.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. The Notes will be offered to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) or to non-U.S. persons in reliance on Regulation S under the Securities Act. The Notes will not be registered under the Securities Act.
Unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This report shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
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