FedEx To Offer $2bn Unsecured Notes

FedEx Corporation says it intends to offer $2bn of senior unsecured notes pursuant to an effective registration statement previously filed with the Securities and Exchange Commission. The offering and the final terms of the notes, including principal amount, interest rate and maturity, will depend on market and other conditions at the time of pricing. FedEx intends to use proceeds from the offering to make payments under accelerated share repurchase agreements. J.P. Morgan Securities, Goldman, Sachs & Co. and Morgan Stanley & Co. are acting as joint book-running managers for the offering.

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