FedEx seeks consents to amend 7.6% notes, 10 pass-through certificates

By Susanna Moon

Chicago, April 22 – FedEx Corp. said Federal Express Corp. began consent solicitations for its $240 million 7.6% notes due 2097 and 10 series of pass-through certificates.

The company is soliciting consents for its $5,738,000 of 7.96% 1993 series C2 pass-through certificates, $45,828,741 of 7.58% 1995 series B3 pass-through certificates, $20,850,345 of 8.17% 1996 series A2 pass-through certificates, $24,886,616 of 7.84% 1996 series B2 pass-through certificates, $208,062,796 of 6.72% 1998-1-A pass-through certificates, $52,862,629 of 6.845% 1998-1-B pass-through certificates, $58,154,565 of 7.65% 1999-1-A pass-through certificates, $18,444,565 of 7.90% 1999-1-B pass-through certificates, $8,624,500 of 8.25% 1999-1-C pass-through certificates and $59,301,612 of 2.625% 2012 pass-through certificates.

FedEx said that before the consent solicitation, it issued guarantees of the 7.6% notes due 2097 and of Federal Express’ obligations under the aircraft lease agreements that serve as collateral for the equipment trust certificates underlying each series of pass-through certificates.

The proposed amendments would allow Federal Express to satisfy its obligation to provide audited financial information of Federal Express with certain information relating to FedEx, according to a company notice.

If approved by the holders of a majority of any particular series, the amendments will be binding on all holders of that series and only holders who delivered consents will receive the consent payment, the release noted.

The consent solicitations will end at 5 p.m. ET on May 2.

Consents may be revoked at any time before the end of the solicitation.

The solicitation agent is BofA Merrill Lynch (888 292-0070 or 980 683-3215). Global Bondholder Services Corp. (866 794-2200 or 212 430-3774) is the information agent, tabulation agent and paying agent.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.