MEMPHIS, Tenn.--(BUSINESS WIRE)--FedEx Corp. (NYSE: FDX) (“FedEx”) announced that it has issued a notice of redemption of all of its outstanding €500,000,000 in aggregate principal amount of 0.500% Notes due 2020 (the “Notes”) on August 21, 2019 (the “Redemption Date”). The redemption price of the Notes will be calculated on the third business day prior to the Redemption Date and will be equal to the greater of (i) 100% of the principal amount of the Notes and (ii) the sum of the present values of the Remaining Scheduled Payments of principal and interest on the Notes to be redeemed that would be due if the Notes matured on the applicable Par Call Date (not including any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on an ACTUAL/ACTUAL (ICMA) day count basis, at the applicable Comparable Government Bond Rate plus 0.150% (15 basis points).
The redemption of the Notes is subject to the successful completion of FedEx’s proposed issuance of U.S. dollar-denominated notes (the “USD Notes”) and euro-denominated notes (the “Euro Notes”). If either of the USD Notes or the Euro Notes are not successfully issued, FedEx may, in its sole discretion, decide (i) to proceed with the redemption, (ii) not to undertake the redemption of the Notes, in which case it will rescind its notice or (iii) to delay such redemption until such time determined by FedEx.
A notice of redemption is being distributed to all registered holders of the Notes by Elavon Financial Services DAC, UK Branch, as paying agent for the Notes.
Capitalized terms used in this press release and not defined herein are used as defined in the indenture dated as of October 23, 2015, as supplemented and amended by supplemental indenture no. 3 dated as of April 11, 2016.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $70 billion, the company offers integrated business solutions through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 450,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.
Certain statements in this press release may be considered forward-looking statements, such as statements relating to management’s views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, volatility or disruption in the debt capital markets and other factors which can be found in FedEx Corp.’s and its subsidiaries’ press releases and FedEx Corp.’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.