C.H. Robinson Amends Credit Agreement to Enable RXO Acquisition Financing

What happened

C.H. Robinson signed a fifth amendment to its credit agreement on Oct 22, 2026, letting it proceed with its planned RXO acquisition and related financing. The change lets the company count more cash against its debt and loosens some borrowing rules.

Confirmed

Global impact / market context

The amended agreement lets C.H. Robinson include more of its cash when measuring borrowed money against profit, which can keep it inside its 3.75 to 1.00 limit. That flexibility matters because the RXO deal adds debt and costs before any added profit arrives.

Analyst inference

Investors in freight and logistics companies often watch how acquisitions are funded and how much borrowed money results. Here the lender group, led by U.S. Bank, agreed to loosen cash-offset rules, which suggests the deal needs room within the existing credit agreement.

Analyst inference

What to watch

1. The amendment removes the cap on cash netting, which means how much cash can be subtracted when calculating debt, while keeping the maximum net leverage ratio at 3.75 to 1.00. Confirmed
2. Watch whether the RXO acquisition closes and triggers the leverage holiday, which is a temporary easing of the borrowed-money limit and counts toward the agreement's limit of two. Proposed
3. Track C.H. Robinson's reported debt and profit after closing, because the revised method for counting RXO's profit could change how close the company sits to its limit. Analyst inference

Evidence

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