Morgan Stanley Senior Funding acted as administrative agent for an amendment to XPO Logistics’ senior secured term loan credit agreement, increasing the principal loan amounts from $1.494 billion to $1.503 billion.
XPO Logistics said it agreed to acquire New Breed. The acquisition will be supported by term loan commitments from Credit Suisse, Morgan Stanley Senior Funding, Citigroup and Deutsche Bank for up to $645 million.
XPO Logistics announced it obtained bank commitments to amend its ABL facility to increase the amount of financing capacity from $125 million to $415 million. Morgan Stanley, others led the facility.