FedEx Corp. (NYSE: FDX) announced pricing terms for cash tender offers to purchase up to $4.15 billion in aggregate of its outstanding notes, according to a press release from the company.

Pricing was determined at 10:00 a.m. New York time on July 10, 2026. FedEx expects to accept $4.857 billion aggregate principal amount of notes on the early settlement date of July 14, 2026, using a waterfall methodology that prioritizes notes by acceptance level.

Notes accepted in full include series ranging from the 4.500% Notes due 2065 through the 3.900% Notes due 2035, spanning acceptance priority levels 1 through 12. The 5.100% Notes due 2044, assigned priority level 13, will be accepted only on a prorated basis at approximately 41.3%. Six series of lower-priority notes — including the 3.100% Notes due 2029 and the 4.900% Notes due 2034 — will not be accepted for purchase.

Holders who tendered notes at or before the early tender deadline of 5:00 p.m. New York time on July 9, 2026 are eligible for a total consideration that includes an early tender premium of $30 per $1,000 principal amount. Accepted holders will also receive accrued and unpaid interest up to, but excluding, the July 14 settlement date.

Because the aggregate purchase price of notes tendered before the early deadline exceeded the offer cap, FedEx stated there will be no final settlement date and no notes tendered after the early tender time will be accepted. Notes not purchased will be returned to holders promptly after July 14, 2026.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BofA Securities, Citigroup Global Markets, and Wells Fargo Securities are serving as lead dealer managers. Morgan Stanley & Co. LLC and Scotia Capital (USA) are co-dealer managers.