Global Finance News
27 Feb 2025, 21:36
FedEx Corporation has filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) on February 26, 2025. The key points from this filing are:
FedEx completed its previously announced exchange offers and consent solicitations for certain outstanding senior notes. These actions were part of a broader effort related to the planned separation of FedEx Freight into a new publicly traded company.
The exchange offers involved swapping existing senior notes for new notes with similar terms. The consent solicitations sought to amend existing indentures to release FedEx Freight’s guarantee once it ceases to be a subsidiary.
The company received valid tenders and consents for a significant portion of its outstanding notes, with new notes issued in exchange. Some existing notes remain outstanding following the settlement.
Supplemental indentures were executed to implement the proposed amendments for the majority of the existing notes, except for the 1.300% Notes due 2031, which did not receive the requisite consents.
FedEx entered into a registration rights agreement with Goldman Sachs & Co. LLC, agreeing to file a registration statement for an exchange offer involving the newly issued notes.
FedEx completed its previously announced exchange offers and consent solicitations for certain outstanding senior notes. These actions were part of a broader effort related to the planned separation of FedEx Freight into a new publicly traded company.
The exchange offers involved swapping existing senior notes for new notes with similar terms. The consent solicitations sought to amend existing indentures to release FedEx Freight’s guarantee once it ceases to be a subsidiary.
The company received valid tenders and consents for a significant portion of its outstanding notes, with new notes issued in exchange. Some existing notes remain outstanding following the settlement.
Supplemental indentures were executed to implement the proposed amendments for the majority of the existing notes, except for the 1.300% Notes due 2031, which did not receive the requisite consents.
FedEx entered into a registration rights agreement with Goldman Sachs & Co. LLC, agreeing to file a registration statement for an exchange offer involving the newly issued notes.