FedEx launches $4.15B cash tender offer for 19 note series using Freight spin-off dividend

FEDEX CORP

Fedex commences tender offers to purchase up to $4.15B aggregate principal (excl. accrued interest) of 19 outstanding note series.
Offers funded by ~$4.1B cash dividend from FedEx Freight spin-off (completed June 1, 2026) plus cash on hand.
Early tender premium of $30 per $1,000 principal; early tender deadline July 9, 2026; final expiration July 24, 2026.
Acceptance priority levels per series; no financing condition; settlement expected July 14 (early) and July 28 (final).
Goldman Sachs, JPMorgan, BofA, Citi, Wells Fargo lead dealers; Morgan Stanley and Scotia co-dealers.

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