US-based FedEx Corp (FDX.N) said Tuesday that it will cut its net debt by $ 2.6 billion after completing the placement of $ 1.75 billion and € 1.25 billion.
The proposals represent the largest series of related debt deals in its history, the company said in a statement.
Using proceeds from the placement of debt obligations and available cash, FedEx will liquidate all debt obligations until 2025.
The proposals, which will be completed at the end of this month, also include a € 600 million tranche of sustainable development bonds in Europe to finance its goal of achieving carbon neutral operations by 2040.
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