debt
confidence high
sentiment neutral
materiality 0.60
FedEx extends senior notes exchange offer to Feb 21; amends terms for four series
FEDEX CORP
- Expiration date extended from Feb 6 to Feb 21, 2025 for all series of existing notes.
- Amended terms for 3.875% notes due 2042, 4.050% due 2048, 4.950% due 2048, and 5.250% due 2050: no cash early participation after prior expiration.
- Majority consents (over 50%) obtained for 19 series of notes; non-majority consents for 4.200% due 2028, 4.250% due 2030, 1.300% due 2031.
- Exchange offers and consent solicitations are part of the planned separation of FedEx Freight into a new publicly traded company.