FedEx’s €1.25 Billion Debt Offering

Simpson Thacher represented the underwriters in the offering.

FedEx Corporation (“FedEx”) executed the offering of €600 million aggregate principal amount of 0.45% Notes due 2029 and €650 million aggregate principal amount of 0.95% Notes due 2033. The 0.45% Notes represent the first sustainability bond issued by a North American transportation and logistics company and are one of the ways FedEx will fund its efforts to achieve its goal of carbon neutral operations by 2040. The Notes are guaranteed by nine subsidiaries of FedEx.

ING Bank N.V., Mizuho International plc, BNP Paribas, Wells Fargo Securities International Limited, Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, Goldman Sachs & Co. LLC, HSBC Bank plc, J.P. Morgan Securities plc, Merrill Lynch International, Morgan Stanley & Co. International plc, Scotiabank Europe plc, Truist Securities, Inc., CastleOak Securities, L.P., and Siebert Williams Shank & Co., LLC acted as underwriters for the offering.

FedEx provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $79 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand.

The Simpson Thacher team for the transaction included, among others, Risë Norman (Picture), Ben Massey and Taylor Wettach (Capital Markets); Jonathan Cantor and Tyler Robbins (Tax); Michael Isby (Environmental); Larry Moss (Executive Compensation and Employee Benefits); Melanie Jolson (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).

Involved fees earner: Jonathan Cantor – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Ben Massey – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Risë Norman – Simpson Thacher & Bartlett; Tyler Robbins – Simpson Thacher & Bartlett; Taylor Wettach – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: BNP Paribas; CastleOak Securities; Citigroup Global Markets Ltd; Deutsche Bank AG London Branch; Goldman Sachs & Co.; Hsbc Bank plc; ING Bank; J.P. Morgan Securities LLC; Merrill Lynch International; Mizuho; Morgan Stanley; Scotiabank Europe; Siebert Williams Shank & Co. LLC; Truist Securities Inc. ; Wells Fargo Securities;

Author: Martina Bellini