FedEx amends $3.5B credit facilities in preparation for Freight spin-off by June 2026

FEDEX CORP

Amended $1.75B three-year and $1.75B five-year credit agreements to facilitate planned FedEx Freight spin-off.
FedEx Freight guarantees will be released upon consummation of spin-off, expected by June 2026.
Covenant calculation excludes up to $600M in spin-off-related debt and costs from EBITDA.
Lender commitments extended to March 2028 (three-year) and March 2030 (five-year); 10bps credit spread removed.
Pricing grid margins modified; banks include JPMorgan, Bank of America, Citi, and others.

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