GXO Logistics, Inc. (GXO): debt financing — GXO announces cash offer for Wincanton at 605p/share; secures £763M bridge loan and 34% acceptances

GXO Logistics, Inc.

GXO offers 605p/share cash for Wincanton plc, a 26% premium to CEVA Logistics' final offer of 480p.
Irrevocable undertakings secured for 42.4M shares (34.0% of Wincanton); offer condition requires ≥75% acceptances.
GXO entered into a £763M bridge credit agreement with Bank of America to finance the acquisition.
Expected full annual net run-rate synergies of £45M (pre-tax); acquisition expected to be immediately accretive to EPS.
Offer priced at 605p/share, a 104% premium to Wincanton's closing price of 297p on 18 Jan 2024.

item 1.01 item 2.03 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GXO Logistics, Inc. incurred credit facility of £763 million with Bank of America, N.A. at Daily Simple SONIA Rate, plus an applicable margin.

Instrument: credit facility
Principal: £763 million
Counterparty: Bank of America, N.A.
Rate: Daily Simple SONIA Rate, plus an applicable margin
Event: incurrence

Exact text from the filing

The Bridge Credit Agreement provides for a £763 million unsecured term facility that may be borrowed by the Company in multiple draws beginning on the date that the Acquisition is consummated and thereafter during the commitment period of the Bridge Credit Agreement, subject to the satisfaction of certain customary conditions.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GXO Logistics, Inc. entered into Bridge Term Loan Credit Agreement with Bank of America, N.A. valued at £763 million (effective 2024-02-29).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A.
Value: £763 million
Effective: 2024-02-29

Exact text from the filing

the Company and Bank of America, N.A. (“Bank of America”), as administrative agent, entered into a Bridge Term Loan Credit Agreement, dated February 29, 2024

View on SEC.gov

299 debt financings filed in the last 30 days. Browse all debt financings →

GXO Logistics, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-029127

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.