FedEx Corporation (NYSE:FDX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On January26, 2018, FedEx Corporation (“FedEx”), as borrower, and JPMorgan Chase Bank, N.A., as administrative agent, entered into an amendment to the five-year credit agreement dated as of November13, 2015, among FedEx, JPMorgan Chase Bank, N.A., individually and as administrative agent, and the other lenders and parties thereto (the “Credit Agreement”), effecting the exercise of FedEx’s option under Section2.18 of the Credit Agreement to increase the aggregate amount available under the facility from $1.75billion to $2.0billion. Certain existing lenders under the Credit Agreement provided the additional $250million of new commitments. The sub-limit for letters of credit under the Credit Agreement remains $500million. Except for changes reflecting the increase in the size of the facility, the terms and conditions of the Credit Agreement were not changed.
Certain of the lenders under the Credit Agreement, including JPMorgan Chase Bank, N.A., and their affiliates engage in transactions with, and perform services for, FedEx and its affiliates in the ordinary course of business and have engaged, and may in the future engage, in other commercial banking transactions and investment banking, financial advisory and other financial services transactions with FedEx and its affiliates.
SECTION2.FINANCIAL INFORMATION.
| Item 1.01. | Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth above under Item 1.01 is hereby incorporated by reference into this Item 1.01.
About FedEx Corporation (NYSE:FDX)
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services. The FedEx Express segment offers a range of the United States domestic and international shipping services for delivery of packages and freight. TNT Express segment collects, transports and delivers documents, parcels and freight on a day-definite or time-definite basis. The FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services. The FedEx Freight segment offers less-than-truckload (LTL) freight services. The FedEx Services segment provides its other companies with sales, marketing, information technology, communications, customer service and other back-office support.
