US FedEx sells USD 1.6 billion of notes
FedEx Corp has sold USD 1.6 billion of debt in three parts, market sources said, in a transaction that will help the global delivery company pay for its first-quarter acquisition of copy-center operator Kinko’s. The air express delivery group, based in Memphis, Tennessee, used short-term borrowings to help fund the USD 2.4 billion acquisition in February, and will pay down those borrowings with the proceeds from these notes, according to a statement from Moody’s Investors Service on Monday.
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