XPO Logistics plans $195 million in term loans for 3PD purchase

By Sara Rosenberg

New York, July 15 - XPO Logistics Inc. received a commitment for $195 million in term loans to help fund its acquisition of 3PD Holding, Inc., according to an 8-K filed Monday with the Securities and Exchange Commission.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

The debt consists of a $140 million first-lien term loan and a $55 million second-lien term loan.

Under the agreement, XPO is buying 3PD, an Atlanta-based non-asset, third party provider of heavy goods, last-mile logistics, for about $365 million.

The transaction reflects an aggregate consideration of around $357 million of cash and $8 million of XPO restricted stock.

Closing is expected in the third quarter, subject to Hart-Scott-Rodino clearance and customary conditions.

XPO is a Greenwich, Conn.-based provider of transportation logistics services and expedited transportation services.

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