XPO to offer $830 million of five-year bonds and $450 million of eight-year bonds

Transportation company XPO Inc.
XPO,
-0.92%
on Wednesday announced a proposed offering of $830 million in senior secured notes due 2028 and $450 million of senior unsecured notes due 2031 in one or more private placements. Proceeds ill be used along with a new term loan and cash on hand to repay existing term loan principal and accrued interest. The announcement comes a day after Pfizer Inc.
PFE,
-1.16%
borrowed $31 billion a mega bond deal as companies pick up the pace of borrowing ahead of potential market turmoil tied to the U.S. debt-ceiling fight.