FEDEX CORP (FDX): debt financing — FedEx completes $10.7B bond exchange to facilitate FedEx Freight separation; removes Freight guarantee.

FEDEX CORP

FedEx accepted $10.72B of USD notes and €940M of Euro notes in exchange for new notes with identical interest rates and maturities.
Supplemental indentures executed to automatically release FedEx Freight guarantee upon its separation from FedEx.
Consent obtained for all series except 1.300% Notes due 2031, which saw only 29.02% tender.
Settlement expected Feb 26, 2025; separation of FedEx Freight is not conditioned on the exchange offers.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

FEDEX CORP incurred senior notes of aggregate of $10,724,846,000 principal amount of Existing USD Notes and an aggregate of €939,697,000 principal amount of.

Instrument: senior notes
Principal: aggregate of $10,724,846,000 principal amount of Existing USD Notes and an aggregate of €939,697,000 principal amount of
Event: incurrence

Exact text from the filing

FedEx resulting in the separation of the FedEx Freight business through the capital markets to create a new publicly traded company. As of the Expiration Date, an aggregate of $10,724,846,000 principal amount of Existing USD Notes (as defined herein) and an aggregate of €939,697,000 principal amount of Existing Euro Notes (as defined herein) had been validly tendered

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Source: SEC EDGAR

accession 0001193125-25-036894

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