Loan & DebtJul 10, 2026, 04:33 PM
FedEx to Repurchase $4.86B in Notes via Cash Tender Offer
AI Summary
FedEx announced the early results and pricing terms of its previously disclosed cash tender offers for various series of its outstanding notes. The company expects to repurchase an aggregate principal amount of $4.86 billion in notes, adhering to an aggregate purchase price cap of $4.15 billion. Notes with Acceptance Priority Levels 1 through 12 will be accepted in full, while 5.100% Notes due 2044 (Level 13) will be accepted on a prorated basis. Due to the offer cap being exceeded, notes with Acceptance Priority Levels 14 through 19 will not be accepted.
Key Highlights
- FedEx announced early results and pricing for its cash tender offers for various notes.
- The company expects to accept $4.86 billion aggregate principal amount of notes.
- The aggregate purchase price for the offers was capped at $4.15 billion.
- Notes with Acceptance Priority Levels 1 through 12 will be accepted in full.
- 5.100% Notes due 2044 (Level 13) will be accepted on a prorated basis of approximately 41.3%.
- Notes with Acceptance Priority Levels 14 through 19 will not be accepted.
- Holders of accepted notes will receive an Early Tender Premium of $30 per $1,000 principal amount.
- The Early Settlement Date for accepted notes is July 14, 2026.
Price Impact
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