FedEx Freight secures $1.8B in credit facilities for spin-off; director resigns to join Freight board

FEDEX CORP

FedEx Freight entered a $1.2B revolving credit facility (incl. $50M LC sub-facility) and a $600M term loan on Jan 15, 2026.
Proceeds to finance a cash distribution to FedEx and pay spin-off fees; facilities conditioned on spin-off consummation.
Director Stephen E. Gorman resigned from FedEx board effective upon joining FedEx Freight board after spin-off; no disagreements.
Revolving credit facility matures 5 years from closing; term loan matures 3 years after funding; no scheduled amortization.

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