11:41 AM EST, 01/23/2025 (MT Newswires) -- FedEx ( FDX ) on Thursday announced early participation results of its exchange offers for outstanding senior notes and related consent solicitations.

Holders of notes tendered by the early participation date, will receive $970 in principal amount of new notes, along with an early participation payment of $30 in principal and $2.50 in cash for every $1,000 of existing USD notes.

The company said it has received the necessary consents for 15 series of majority existing notes, with participation rates ranging from 51.98% to 69.26%, and will offer $1,000 in principal amount of new notes for late tenders of these notes.

For non-majority existing notes that consist of seven series with participation rates between 27.38% and 49.07%, late tenders will be eligible to receive the total consideration, which includes both the principal amount of new notes and the cash portion of the early participation payment, ensuring holders who submit late tenders receive the full value offered.

The exchange offers will close on Feb. 6, unless extended or terminated, and are part of the planned separation of FedEx Freight business, the company said.

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