FedEx to redeem, defease $483 million of term bonds via note offering

By Tali Rackner

Norfolk, Va., March 21 – FedEx Corp. plans to redeem $245 million of tax-exempt Alliance Airport, Inc. 4.85% term bonds due 2021 and prepay and defease $238 million of tax-exempt Indianapolis Airport Authority 5.1% term bonds due 2017 with the proceeds from two new note offerings, according to a 424B3 filing with the Securities and Exchange Commission.

The bonds are guaranteed by FedEx Express.

Proceeds will also be used to make share repurchases pursuant to the company’s previously announced share repurchase authorization.

FedEx is a Memphis, Tenn.-based shipping and logistics management company.

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