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MEMPHIS - FedEx Corp. (NYSE:FDX), a prominent player in the Air Freight & Logistics industry with a market capitalization of $55.8 billion, announced Tuesday the extension of the expiration date for its offers to exchange outstanding senior notes for registered notes with substantially identical terms. According to InvestingPro analysis, FedEx maintains a "GOOD" financial health score, suggesting strong operational stability.
The exchange offers, previously set to expire on September 29, 2025, will now close at 5:00 p.m. New York City time on October 6, 2025, except for the 3.875% Notes due 2042. The extension aims to give noteholders additional time to participate in the exchange.
The exchange offer for the 2042 Notes will not be extended as 100% of the aggregate principal amount had already been validly tendered by the previous deadline. FedEx expects to settle this specific exchange offer around October 1, 2025.
According to information provided by the exchange agents, most note series had already received high participation rates by the previous deadline, with tendered amounts ranging from 96.8% to 100% of outstanding principal.
The exchange offers cover multiple series of U.S. dollar-denominated and Euro-denominated notes with maturity dates ranging from 2028 to 2065. With a current debt-to-equity ratio of 1.36 and a healthy current ratio of 1.25, FedEx’s debt management appears prudent. U.S. Bank Trust Company, National Association serves as exchange agent for the U.S. dollar-denominated notes, while U.S. Bank Europe DAC, U.K. Branch handles the Euro-denominated notes. For deeper insights into FedEx’s debt structure and comprehensive financial analysis, check out the detailed Pro Research Report available on InvestingPro.
A Registration Statement on Form S-4 relating to the exchange offers was declared effective by the Securities and Exchange Commission on August 28, 2025. The exchange offers are being conducted pursuant to a prospectus dated August 29, 2025.
The information is based on a press release statement from FedEx Corp.
In other recent news, FedEx reported adjusted diluted earnings per share of $3.83 for its fiscal first quarter of 2026, surpassing analyst expectations of $3.59. This positive performance was largely attributed to strong results in the Express segment, although the Freight segment showed some weakness. Analysts have responded with varied price target adjustments: Truist Securities maintained a Buy rating with a target of $275, while Bernstein raised its target to $250, citing a strong quarter. JPMorgan kept its Overweight rating but slightly lowered its target to $284 due to tariff headwinds. Evercore ISI reduced its target to $239, expressing concerns over margins and global trade uncertainties. Meanwhile, TD Cowen increased its price target to $271, maintaining a Buy rating despite challenges in the Freight segment. FedEx remains focused on achieving $1 billion in permanent cost reductions by fiscal year 2026, according to Truist Securities. These developments reflect a complex landscape for FedEx as it navigates both domestic volume strengths and international challenges.
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