RXO enters $600M in credit facilities ($500M revolver, $100M term loan) ahead of spin-off from XPO

RXO, Inc.

Revolving credit agreement: $500M unsecured multicurrency facility, 5-year term, with $50M letter of credit sublimit.
Term loan agreement: $100M unsecured facility, 5-year term, single draw at spin-off closing, quarterly amortization starting Q1 2025.
Proceeds used for general corporate purposes, including acquisitions, and term loan funds distribution to XPO.
Both facilities include financial covenants: max consolidated leverage ratio and min interest coverage ratio.
Guarantees from wholly-owned domestic subsidiaries, released if RXO achieves certain credit ratings.

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