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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
INDS
PRCD
FDX
FedEx Corp€2,000
2USOA
Sep 9, 2026
currency
EUR
size (m)
1,100.000
maturity
Sep 30, 2030
type
Fixed
tenor
4.000
call
-
registration
SEC Registered
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa2
s&p
BBB
fitch
-
size description
-
re-open/tap
No
ipt
MS+105 area
ipt-pxd
-30
guidance
STL
spread
75
coupon
4.00%
spread set
-
price
99.71400
yield
4.079%
book size (m)
2,850
peak book (m)
3,100
x-covered
2.59
book attrition
-8.06%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,850
peak book (m)
3,100
x-covered
2.59
book attrition
-8.06%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
currency
EUR
size (m)
900.000
maturity
Sep 30, 2034
type
Fixed
tenor
8.000
call
-
registration
SEC Registered
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Baa2
s&p
BBB
fitch
-
size description
-
re-open/tap
No
ipt
MS+145 area
ipt-pxd
-20
guidance
STL
spread
125
coupon
4.625%
spread set
-
price
99.80700
yield
4.655%
book size (m)
1,650
peak book (m)
1,950
x-covered
1.83
book attrition
-15.38%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,650
peak book (m)
1,950
x-covered
1.83
book attrition
-15.38%
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 2850; Registration: SEC Registered; Comments: DBR 0% 08/30 (88.66) + 96.6bp | HR: 108%. MWC: B+15. CoC: 101%. Tax Call: Yes. Clean-Up Call: 75%. LEI: 549300E707U7WNPZN687; Book size: 1650; Registration: SEC Registered; Comments: DBR 2.6% 08/34 (94.98) + 132.4bp | HR: 98%. MWC: B+20. CoC: 101%. Tax Call: Yes. Clean-Up Call: 75%. LEI: 549300E707U7WNPZN687;
Guarantor(s)
Federal Express Corporation, FedEx Office and Print Services Inc, Federal Express Europe Inc, Federal Express Holdings SA LLC, Federal Express International Inc
Use of Proceeds
The Company intends to use the net proceeds from this offering, together with the net proceeds from the offering of U.S. dollar notes, if any, for general corporate purposes, which may include the redemption or repayment of outstanding indebtedness
Relative Value

COMPS

Ticker

Issuer

Ratings (M/S/F)

Size

Coupon

Maturity

Tenor

I-Sprd

FDX

FedEx

Baa2/BBB/-

500

3.5

Jul-32

5.8

82

FDX

FedEx

Baa2/BBB/-

350

4.125

Jul-37

10.8

123

UPS

UPS

A2/A/-

500

1.5

Nov-32

6.2

61

DSVDC

DSV

A3/A-/-

1250

3.25

Nov-30

4.2

51

DSVDC

DSV

A3/A-/-

750

3.375

Nov-34

8.2

83

BPOST

bpost

-/A-/-

500

3.29

Oct-29

3.1

53

BPOST

bpost

-/A-/-

500

3.632

Oct-34

8.1

86

BXBAU

Brambles

Baa1/A-/-

500

4.25

Mar-31

4.5

62

BXBAU

Brambles

Baa1/A-/-

500

3.625

Apr-33

6.6

79

MAERSK

Maersk

Baa1/BBB+/-

500

3.75

Mar-32

5.5

66

MAERSK

Maersk

Baa1/BBB+/-

500

3.5

Sep-34

8

83