RXO closes $355M notes offering at 7.500% due 2027 to fund spin-off from XPO

RXO, Inc.

$355M aggregate principal of 7.500% notes due Nov 15, 2027, issued at 98.962% of par.
Net proceeds fund a cash distribution to XPO (for debt repayment), fees, and working capital.
Notes are unsecured, unsubordinated; escrow issuer merges into RXO, making RXO obligor.
RXO also entered an IP license agreement with XPO for reciprocal software platform licenses.

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