U.S. Xpress starts roadshow for $320 million eight-year senior notes; early guidance 9% area

By Paul A. Harris

Portland, Ore., July 11 – U.S. Xpress Enterprises Inc. started a roadshow on Monday for a $320 million offering of eight-year senior notes, according to market sources.

The deal is expected to price on Friday.

Early guidance has the notes pricing with a yield in the 9% area.

J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.

The notes come with three years of call protection.

The Chattanooga, Tenn.-based intermodal freight company plans to use the proceeds to repay its term loan and its 2007 restated term loan.

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