C.H. Robinson plans to pay down $651 million revolver via new issue

By Susanna Moon

Chicago, April 9 – C.H. Robinson Worldwide Inc. plans to repay the $651 million of outstanding debt under its revolving credit facility due Dec. 31, 2019 via an issue of senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

As of March 30, the actual weighted average interest rate of the outstanding borrowings was about 4.73%.

The revolver is dated Oc. 29, 2012 with U.S. Bank NA as administrative agent.

Any remaining proceeds will be used for general corporate purposes, including capital expenditures, acquisitions, investments, other business opportunities, stockholder returns and repayment or refinancing of debt.

C.H. Robinson is a non-asset-based third-party logistics company based in Eden Prairie, Minn.

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