GXO Looks at Selling High-Grade Bonds and Plans to Cut Debt

February 18, 2023// by Nina Trentmann

My first story for Bloomberg News: GXO Logistics is looking to sell bonds to refinance outstanding bank loans while also bringing down its debt levels as interest rates rise.

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Carvana is offering to exchange up to $1 billion of bond principal at below-par prices as it works to restructure its debt load. The company also said it moved its car auction business Adesa U.S. into an unrestricted subsidiary. @Tobin_Tweets @business. https://t.co/6r65z1U62p

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NEW: Powell says Fed officials "just don't" see rate cuts this year https://t.co/Ge7pVTfFgE

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A former Goldman Sachs trader says he has a new way to revolutionize the world of high finance: Using blockchain technology to sell government and corporate bonds. @LivRaiReports @tracyalloway @annairrera @business https://t.co/DaklLhLiHL

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Mortgage bonds have been hit in recent weeks by the US regional bank crisis, and the Federal Reserve has the potential to add to pressure on the securities, @ArroyoNieto reports for @business. https://t.co/fAqYMK4b1w

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The Federal Reserve raised interest rates by a quarter percentage point and signaled it's not finished hiking, despite the risk of exacerbating a bank crisis that's roiled global markets. https://t.co/QrI9xENmdV

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