11:23 AM EST, 01/08/2025 (MT Newswires) -- FedEx ( FDX ) said it launched Tuesday offers to exchange any and all of its outstanding senior notes for new notes as part of the planned separation of its freight business into a new publicly traded entity.

The company said eligible holders who validly tender their notes by Jan. 22 will receive an early participation payment. The exchange offers will expire on Feb. 6, the company added.

FedEx ( FDX ) said it does not plan to increase its leverage in connection with the separation, and both companies will continue cooperation on key commercial, operational, and technology initiatives.

The separation is expected to be completed within 18 months, according to FedEx ( FDX ).

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