Midday Commentary: FedEx's $750 million notes trades tighter in secondary market

By Aleesia Forni

Virginia Beach, Va., April 9 -- FedEx Corp.'s $750 million of notes was trading tighter on Tuesday, one trader said early during the session.

The company's $250 million of 2.7% notes due 2023 traded 3 basis points better at 97 bps bid, the source said.

The notes were sold at Treasuries plus 100 bps on Monday.

Meanwhile, the $500 million of 4.1% notes due 2043 were quoted 2 bps better at 118 bps bid, the source added, following Monday's sale at a spread of Treasuries plus 120 bps.

Located in Memphis, Tenn., FedEx is a shipping and logistics management company.

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