The Greenwich, Conn.-based third-party logistics provider said it was raising money by offering $535 million of senior notes due in 2023.
XPO Logistics on Thursday announced it was raising money by offering $535 million of senior notes due in 2023.
Senior notes are debts issued to investors, similar to bonds.
The company said it intends to use the proceeds, together with $400 million in borrowed money plus cash, to pay off some or all of its higher interest senior notes due in 2019.
XPO is highly leveraged, having raised several billion dollars in debt and equity markets to finance a massive acquisition spree that has seen the company grow from a small truck broker to a global third-party logistics provider with more than $7.6 billion in gross revenues.
Currently, XPO is integrating companies it bought last year, and so far, its performance has analysts optimistic that it can manage its debt and make a profit.
XPO borrows to retire high-interest debt
