CHRW · 10-Q · 2026Q3 · Full report

Debt and Liquidity Position

C. H. ROBINSON WORLDWIDE, INC. · 2026-10-30 · Importance 66 · Surprise 48 · No source text

Net borrowings on debt were $779.0 million in the nine months ended September 30, 2026, compared with net debt payments of $195.0 million in the prior-year period; borrowings helped fund share repurchases, working-capital needs, and acquisitions. In connection with the RXO acquisition, the company entered into a commitment for a 364-day senior unsecured bridge term loan facility of up to $4.5 billion, later reduced to $3.5 billion after the revolving-credit-facility amendment became effective. The company amended its $1.0 billion revolving credit facility to permit the acquisition and related financing and to provide for a temporary increase in the maximum permitted net leverage ratio after closing. As of September 30, 2026, it was in compliance with all debt covenants and stated that available cash, expected operating cash flow, and credit availability would cover anticipated needs for at least 12 months.

Key facts

• The company expects to finance the cash consideration for the RXO acquisition with new debt financing and has a fully underwritten commitment for a 364-day senior unsecured bridge term loan facility of up to $4.5 billion. source
• After the third quarter of 2026, the company entered into the Fifth Amendment to its existing $1.0 billion revolving credit facility, permitting the RXO acquisition and related financing transactions and modifying certain financial covenants, including a temporary increase in the maximum permitted net leverage ratio after closing. source
• Upon effectiveness of the Fifth Amendment, the portion of the bridge commitment backstopping the revolving credit facility terminated, reducing bridge facility commitments to $3.5 billion. source
• The company expects to complete in the fourth quarter of 2026 an amendment to the note purchase agreement for its private placement notes, after which the bridge commitment backstopping those notes will terminate. source
• Net borrowings on debt were $779 million in the nine months ended September 30, 2026, compared with net debt payments of $195 million in the prior-year period. source
• As of September 30, 2026, C.H. Robinson's Senior Notes had $598.491 million carrying value, $600.0 million borrowing capacity, and an April 2028 maturity. source
• C.H. Robinson's total debt was $1.869309 billion, against total borrowing capacity of $2.425 billion, as of September 30, 2026. source
• As of September 30, 2026, C.H. Robinson's Receivables Securitization Facility had $425.818 million carrying value, $500.0 million borrowing capacity, and an August 2027 maturity. source

Impact estimates