GXO Logistics, Inc. (GXO): debt financing — GXO enters £250M term loan facility for Wincanton acquisition and $800M revolver

GXO Logistics, Inc.

Term Loan Credit Agreement provides £250M multicurrency unsecured facility for financing Wincanton plc acquisition.
Revolving Credit Agreement provides $800M unsecured multicurrency, 5-year revolving facility; $100M for letters of credit.
Interest rates based on SOFR/SONIA/EURIBOR plus applicable margin calculated from GXO's credit ratings.
Covenants include consolidated leverage ratio maintenance; customary for unsecured financings.
Commitments under prior bridge term loan reduced by amount of new term loan facility.

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 term loan of £250 million with Bank of America N.A. at alternate base rate or Term SOFR plus applicable margin, Daily Simple SONIA Rate maturing three-year.

Instrument: term loan
Principal: £250 million
Counterparty: Bank of America N.A.
Rate: alternate base rate or Term SOFR plus applicable margin, Daily Simple SONIA Rate
Maturity: three-year
Event: incurrence

Exact text from the filing

The Term Loan Credit Agreement provides for a three-year multicurrency £250 million unsecured term facility

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

GXO Logistics, Inc. incurred revolving credit of $800 million with Bank of America N.A. at alternate base rate or Term SOFR plus applicable margin, Term CORRA plus applica maturing five-year.

Instrument: revolving credit
Principal: $800 million
Counterparty: Bank of America N.A.
Rate: alternate base rate or Term SOFR plus applicable margin, Term CORRA plus applica
Maturity: five-year
Event: incurrence

Exact text from the filing

The Revolving Credit Agreement is a five-year unsecured, multicurrency revolving facility. Initially, the aggregate commitment of all lenders under the Revolving Credit Agreement will be equal to $800 million

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

GXO Logistics, Inc. entered into Revolving Credit Agreement with Bank of America N.A., as administrative agent and an issuing lender valued at $800 million (effective 2024-03-29).

Action: entry
Agreement: credit facility
Counterparty: Bank of America N.A., as administrative agent and an issuing lender
Value: $800 million
Effective: 2024-03-29

Exact text from the filing

the Company entered into a Credit Agreement with the lenders and other parties from time to time party thereto and Bank of America N.A., as administrative agent and an issuing lender (the “Revolving Credit Agreement”).

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

GXO Logistics, Inc. entered into Term Loan Credit Agreement with Bank of America N.A., as administrative agent valued at £250 million (effective 2024-03-29).

Action: entry
Agreement: credit facility
Counterparty: Bank of America N.A., as administrative agent
Value: £250 million
Effective: 2024-03-29

Exact text from the filing

GXO Logistics, Inc. (the “Company” or “GXO”), entered into a Term Loan Credit Agreement with the lenders and other parties from time to time party thereto and Bank of America N.A., as administrative agent (the “Term Loan Credit Agreement”).

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Source: SEC EDGAR

accession 0001104659-24-041819

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