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XPO Logistics increases private offering of senior notes to $400m

Steve Rogerson
February 5, 2015
Connecticut-based XPO Logistics is trying to raise money for general corporate use, including possible future acquisitions. As such, it has increased the size of the offering for its previously announced sale of 7.875 per cent senior notes due 2019 from a principal amount of $350m to $400m.
The company expects to receive gross proceeds from the offering of $416m, equating to a yield to maturity of 6.836 per cent. The notes will be issued as an add-on to the company's existing 7.875 per cent senior notes issued in August 2014.
The notes will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, and outside the USA only to non-US investors pursuant to Regulation S. The notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the USA without an effective registration statement or an applicable exemption from registration requirements or a transaction not subject to the registration requirements of the Securities Act or any state securities laws.
Any offers of the notes will be made only by means of a private offering memorandum.