XPO closes $985M debt issuance for Yellow asset purchase and debt refinancing

On December 13, 2023, XPO entered into that certain Incremental Amendment (Amendment No. 9 to Credit Agreement) (the “ Amendment ”), by and among XPO, its subsidiaries signatory thereto, as guarantors, the lenders party thereto and Morgan Stanley Senior Funding, Inc., in its capacity as administrative agent (the “ Administrative Agent ”), amending that certain Senior Secured Term Loan Credit Agreement, dated as of October 30, 2015 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “ Term Loan Credit Agreement ”), by and among XPO, its subsidiaries from time to time party thereto, as guarantors, the lenders from time to time party thereto and the Administrative Agent. Pursuant to the Amendment, XPO obtained $400 million in aggregate principal amount of incremental term loans under the Term Loan Credit Agreement (the “ Incremental Term Loans ”

On December 13, 2023, XPO, Inc. (“ XPO ”) completed the private placement of $585 million aggregate principal amount of 7.125% senior notes due 2032 (the “ Notes ”). The Notes were issued pursuant to an indenture dated as of December 13, 2023 (the “ Indenture ”) among XPO, the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee.