United Parcel Service, Inc. (NYSE:UPS) Files An 8-K Other EventsItem 8.01. Other Events.
On November9, 2017, the Company entered into an agreement (the “U.S. Underwriting Agreement”) with the underwriters listed on Schedule II thereto (the “U.S. Underwriters”), whereby the Company agreed to sell and the U.S. Underwriters agreed to purchase from the Company, subject to and upon the terms and conditions set forth in the U.S. Underwriting Agreement, $350,000,000 principal amount of Floating Rate Senior Notes due 2021, $500,000,000 principal amount of Floating Rate Senior Notes due 2023, $700,000,000 principal amount of 2.050% Senior Notes due 2021, $1,000,000,000 principal amount of 2.500% Senior Notes due 2023, $500,000,000 principal amount of 2.800% Senior Notes due 2024, $1,000,000,000 principal amount of 3.050% Senior Notes due 2027 and $1,150,000,000 principal amount of 3.750% Senior Notes due 2047 (the “U.S. Transaction”).
On November9, 2017, the Company entered into an agreement (the “Additional Underwriting Agreement”) with the underwriters listed on Schedule II thereto (the “Additional Underwriters”), whereby the Company agreed to sell and the Additional Underwriters agreed to purchase from the Company, subject to and upon the terms and conditions set forth in the Additional Underwriting Agreement, $63,893,000 principal amount of Floating Rate Senior Notes due 2067 (the “Additional Transaction” and, together with the U.S. Transaction, the “Transactions”).
The Company intends to use the net proceeds of the U.S. Transaction to make early contributions to certain of its primary domestic pension plans, to repay the $750million outstanding principal amount of 5.50% Senior Notes due January15, 2018, to repay commercial paper and for general corporate purposes. The Company intends to use the net proceeds of the Additional Transaction for general corporate purposes.
Copies of the U.S. Underwriting Agreement and Additional Underwriting Agreement are attached hereto as Exhibit 1.1 and Exhibit 1.2, respectively, and are incorporated herein by reference. The foregoing summaries do not purport to be complete and are qualified in their entirety by reference to the U.S. Underwriting Agreement and Additional Underwriting Agreement, respectively.
The Company is filing this Current Report on Form 8-K so as to file with the Securities and Exchange Commission certain items related to the Transaction that are to be incorporated by reference into its Registration Statement on Form S-3ASR (Registration No.333-214056).
Item 8.01.Financial Statements and Exhibits.
(d) Exhibits.
UNITED PARCEL SERVICE INC ExhibitEX-1.1 2 d497986dex11.htm EX-1.1 EX-1.1 Exhibit 1.1 EXECUTION VERSION United Parcel Service,…To view the full exhibit click here
About United Parcel Service, Inc. (NYSE:UPS)
United Parcel Service, Inc. (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. It delivers packages each business day in over 220 countries and territories. The Company operates in three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The Company offers a spectrum of the United States domestic guaranteed ground and air package transportation services. The Company’s International Package segment includes the small package operations in Europe, Asia, Canada and Latin America, the Indian sub-continent, the Middle East and Africa. UPS offers a selection of guaranteed day and time-definite international shipping services. The Supply Chain & Freight segment consists of the Company’s forwarding and logistics services, truckload freight brokerage, UPS Freight and its financial offerings through UPS Capital. UPS offers a portfolio of guaranteed and non-guaranteed global air freight services.
