FedEx will repurchase up to $4.15 billion in outstanding notes funded by its recent FedEx Freight spin-off and cash reserves.
FedEx announced cash tender offers to repurchase up to $4.15 billion of its outstanding debt. The move is backed by proceeds from the recently completed FedEx Freight spin-off and existing cash on hand.
The company did not disclose specific debt maturities targeted but indicated the buyback aims to optimize its balance sheet. FedEx completed the FedEx Freight spin-off earlier this year, generating liquidity for debt reduction.
No immediate market reaction was reported following the announcement.