RXO amends credit facility to add $200M term loan for Coyote acquisition, extends revolver maturity

RXO, Inc.

Amendment No. 4 adds a $200 million delayed draw term facility to fund the Coyote Acquisition from UPS.
Revolving credit facility of $600 million extended to five years from funding date or waiver of Coyote conditions.
Leverage covenant set at max 4.50x; springing maturity triggers if >$50M senior notes outstanding.
Amendment No. 3 provides lender consent to the Coyote Acquisition; permits $850M Bridge Facility.
No cash dividends on preferred stock allowed while Bridge Facility is outstanding.

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