C.H. Robinson Amends and Expands Credit Facility to $1.25B, Extends Maturity to 2031

C.H. Robinson Worldwide, Inc. has amended its existing credit and note purchase agreements to increase its financial flexibility and support its previously announced acquisition of RXO, Inc. The amendment increases the company's revolving credit facility from $1.0 billion to $1.25 billion and extends its maturity date.

Key Details

• Increased Capacity: The revolving credit facility was increased by $250 million to a total of $1.25 billion, and the accordion feature was expanded from $500 million to $625 million.
• Maturity Extension: The maturity date for the revolving credit facility has been extended from November 19, 2027, to October 31, 2031.
• Covenant Flexibility: The amendment provides more flexible covenants to accommodate the RXO acquisition, including an increase in permitted 'Leverage Holidays' from two to three and higher thresholds for default triggers (from $125M to $200M).
• Ancillary Terms: The letter of credit sublimit was increased from $50 million to $150 million. Interest rate margins and commitment fees remain unchanged under the amended agreement.