FedEx accepts up to $4.15bn cap in early tender; to purchase $4.857bn tendered, proring 5.100% 2044

FedEx announced early tender results for cash offers and expects to accept notes up to a $4.15 billion cap on an early settlement date of July 14, 2026.

Key Highlights:

• FedEx received valid tenders exceeding the $4.15bn Offer Cap and will apply a waterfall by acceptance priority levels.
• Company expects to accept full amounts of priority levels 1–12 and a prorated portion (~41.3%) of 5.100% Notes due 2044.
• After pricing, Total Consideration includes a $30 per $1,000 early tender premium and accrued interest to July 14, 2026.
• FedEx intends to fund purchases with about $4.1bn dividend from FedEx Freight spin-off plus cash on hand; accrued interest and fees from cash on hand.
• FedEx expects to purchase $4,857,412,000 aggregate principal tendered on the Early Settlement Date, and no late tenders will be accepted.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.