secwatch.observer — SEC 8-K summary
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Issuer:     RXO, Inc. (RXO)
CIK:        0001929561
Form:       8-K
Filed at:   2022-10-18T23:59:59+00:00
Accession:  0000950142-22-002938
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1929561/000095014222002938/0000950142-22-002938-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1929561/000095014222002938/eh220296532_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-22-002938

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