GXO Logistics to offer two series of notes via four bookrunners

By Mary-Katherine Stinson

Lexington, Ky., April 25 – GXO Logistics, Inc. plans to offer two tranches of dollar-denominated notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes have a make-whole call followed by a par call.

Additionally, the notes are callable at 101 upon a change of control or if the pending Wincanton acquisition is not completed by 11:59 p.m. ET five days after the longstop time.

The longstop time is 11:59 p.m. ET on Jan. 29, 2025.

BofA Securities, Inc. and Goldman Sachs & Co. LLC are leading the sale. Barclays and Credit Agricole Securities (USA) Inc. are also listed as bookrunners.

Computershare Trust Co., NA is the trustee.

Wachtell, Lipton, Rosen & Katz is legal counsel for the issuer. Davis Polk & Wardwell LLP will represent the underwriters.

Proceeds, together with the borrowings under a new term loan credit agreement, will be used to fund the acquisition and its fees and expenses, to repay debt and for general corporate purposes.

GXO Logistics is a Greenwich, Conn.-based global contract logistics company that manages outsourced supply chains and warehousing. Based in Chippenham, U.K., Wincanton provides transport and logistics services including specialist automated high bay, high-capacity warehouses and supply chain management for businesses.

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