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United Parcel Service planning to sell floating-rate notes due 2066
By Aleesia Forni
New York, March 29 – United Parcel Service, Inc. is pricing floating-rate senior notes due March 15, 2066, according to a 424B5 filing with the Securities and Exchange Commission.
Bookrunners are UBS Securities LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
The notes may be called in 2046 at 105 and then at amounts declining annually by 50 bps until 2056, when the notes are callable at par.
The notes are putable from March 15, 2017 to March 15, 2021 at 98, from March 15, 2022 to March 15, 2026 at 99 and on March 15, 2027 and every third year thereafter at par.
Proceeds will be used for general corporate purposes.
The package delivery and supply chain management company is based in Atlanta.
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