XPO Logistics unit GXO gets $800 million five-year revolver

By Wendy Van Sickle

Columbus, Ohio, June 23 – XPO Logistics Inc. wholly owned subsidiary GXO Logistics, Inc. entered into a credit agreement on Wednesday providing for an $800 million five-year multicurrency revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

Citibank, NA is the administrative agent.

There is a $60 million sublimit for letters of credit.

Initial availability is subject to some conditions, including the consummation of the spinoff of the company’s logistics segment.

Borrowings bear interest at Libor plus a margin ranging from 100 basis points to 200 bps, and the commitment fee ranges from 12.5 bps to 27.5 bps, both depending on ratings.

Citibank, Barclays Bank plc and Credit Agricole CIB are the joint lead arrangers and bookrunners. Barclays and Credit Agricole are the co-syndication agents.

XPO Logistics is a Greenwich, Conn.-based provider of supply chain solutions.

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