FedEx lifts bank facility by $250 million to $2 billion via JPMorgan

By Susanna Moon

Chicago, Jan. 26 – FedEx Corp. exercised the upsizing option under its credit agreement to increase the amount available under the facility to $2 billion from $1.75 billion.

The company amended its five-year credit agreement dated Nov. 13, 2015 with JPMorgan Chase Bank, NA as administrative agent on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The company obtained the $250 million of new commitments from existing lenders under the loan agreement.

The sub-limit for letters of credit under the agreement remains $500 million, the filing added.

FedEx is a Memphis, Tenn.-based package and freight transportation company.

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