XPO Logistics Completes Previously Announced Private Offering of Senior Notes
(Thomson Reuters ONE) -
GREENWICH, Conn. - February 13, 2015 - XPO Logistics, Inc. ("XPO" or the
"Company") (NYSE: XPO) today announced that it had closed its sale of $400
million aggregate principal amount of 7.875% senior notes due 2019 (the "Notes")
in connection with its previously announced private offering exempt from the
registration requirements under the Securities Act of 1933, as amended (the
"Securities Act"). The Notes were issued as an add-on to the Company's existing
7.875% senior notes issued in August 2014. The Company received gross proceeds
from the offering of $416 million, equating to a yield to maturity of 6.836%,
and intends to use the net proceeds for general corporate purposes that may
include future acquisitions.
The Notes were offered only to qualified institutional buyers in reliance on
Rule 144A under the Securities Act of 1933, and outside the United States, only
to non-U.S. investors pursuant to Regulation S. The Notes have not been and
will not be registered under the Securities Act or any state securities laws and
may not be offered or sold in the United States absent an effective registration
statement or an applicable exemption from registration requirements or a
transaction not subject to the registration requirements of the Securities Act
or any state securities laws.
The Notes are guaranteed by each of XPO's direct and indirect wholly owned
restricted subsidiaries (other than certain excluded subsidiaries) that are
obligors under, or guarantee obligations under, XPO's existing credit agreement
(or certain replacements thereof) or guarantee certain capital markets
indebtedness of XPO or any guarantor of the Notes. The Notes and the guarantees
thereof will be unsecured, unsubordinated indebtedness of XPO and the
guarantors.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy any security and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offering, solicitation or sale would be
unlawful.
About XPO Logistics, Inc.
XPO Logistics, Inc. (NYSE: XPO) facilitates more than 37,000 deliveries a day as
one of the fastest growing providers of transportation logistics services in
North America. XPO is the third largest freight brokerage firm, the third
largest provider of intermodal services, the largest provider of last mile
logistics for heavy goods, the largest manager of expedited shipments, and a
leading provider of highly engineered, technology-enabled contract logistics.
Additionally, the company has growing positions in managed transportation,
global freight forwarding and less-than-truckload brokerage.
XPO has 201 locations and approximately 11,500 employees. Its four business
segments - freight brokerage, contract logistics, expedited transportation and
freight forwarding - utilize relationships with ground, rail, sea and air
carriers and other suppliers to serve over 15,000 customers in the
manufacturing, retail, industrial, technology, aerospace, commercial, life
sciences and governmental sectors. The company has more than 4,900 trucks under
contract to its drayage, expedited and last mile subsidiaries, and has access to
additional capacity through its relationships with over 28,000 other carriers.
For more information: www.xpo.com
Forward-looking Statements
This press release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other than
statements of historical fact are, or may be deemed to be, forward-looking
statements. In some cases, forward-looking statements can be identified by the
use of forward-looking terms such as "anticipate," "estimate," "believe,"
"continue," "could," "intend," "may," "plan," "potential," "predict," "should,"
"will," "expect," "objective," "projection," "forecast," "goal," "guidance,"
"outlook," "effort," "target" or the negative of these terms or other comparable
terms. However, the absence of these words does not mean that the statements
are not forward-looking. These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and our
perception of historical trends, current conditions and expected future
developments, as well as other factors we believe are appropriate in the
circumstances.
These forward-looking statements are subject to known and unknown risks,
uncertainties and assumptions that may cause actual results, levels of activity,
performance or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or implied by such
forward-looking statements. Factors that might cause or contribute to a
material difference include, but are not limited to, those discussed in XPO's
filings with the SEC and the following: economic conditions generally;
competition; XPO's ability to find suitable acquisition candidates and execute
its acquisition strategy; the expected impact of the acquisitions, including the
expected impact on XPO's results of operations; the ability to realize
anticipated synergies and cost savings with respect to acquired companies; XPO's
ability to raise debt and equity capital; XPO's ability to attract and retain
key employees to execute its growth strategy; litigation, including litigation
related to alleged misclassification of independent contractors; the ability to
develop and implement a suitable information technology system; the ability to
maintain positive relationships with XPO's networks of third-party
transportation providers; the ability to retain XPO's and acquired companies'
largest customers; XPO's ability to successfully integrate acquired businesses;
rail and other network changes; weather and other service disruptions; and
governmental regulation. All forward-looking statements set forth in this press
release are qualified by these cautionary statements and there can be no
assurance that the actual results or developments anticipated will be realized
or, even if substantially realized, that they will have the expected
consequences to, or effects on, XPO or its businesses or operations. Forward-
looking statements set forth in this document speak only as of the date hereof,
and XPO undertakes no obligation to update forward-looking statements to reflect
subsequent events or circumstances, changes in expectations or the occurrence of
unanticipated events except to the extent required by law.
Investor Contact:
XPO Logistics, Inc.
Tavio Headley, +1-203-930-1602
tavio.headley(at)xpo.com
Media Contact:
Brunswick Group
Darren McDermott, +1-212-333-3810
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: XPO Logistics, Inc. via GlobeNewswire
[HUG#1894507]
Unternehmensinformation / Kurzprofil:
Datum: 13.02.2015 - 17:56 Uhr
Sprache: Deutsch
News-ID 371613
Anzahl Zeichen: 8043
contact information:
Town:
Greenwich
Kategorie:
Business News
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