FedEx Launches Tender Offers
FedEx launches cash tender offers for notes with $4.15B offer cap
Offers cover multiple notes due 2028-2065; aggregate purchase price, excluding accrued and unpaid interest, will not exceed $4.15B. - Early tender time and withdrawal deadline are 17:00 New York City time on July 9th; expiration is 17:00 New York City time on July 24th. - Early settlement is expected July 14th and final settlement is expected July 28th; early tender premium is $30 per $1,000 principal amount. - Proceeds from FedEx Freight's approximately $4.1B cash dividend, together with cash on hand, will fund consideration for the offers.