Performance Boost with $4 Billion Bonds: Global Logistics Giant Spins Off Freight Business

FedEx Corp (NYSE: FDX) has filed a Form 8-K for the third quarter of fiscal 2026, reporting year-over-year increases in revenue, operating income and earnings per share, and has reconfirmed the tax-neutral spin-off of FedEx Freight on June 1. To finance the spin-off, on February 5 FedEx Freight issued approximately $3.7 billion (KRW 4.8 trillion) of senior notes and paid the proceeds to the parent company as a dividend. The company also disclosed a conditional agreement, alongside private equity firms Advent International, A&R Investments and PPF Group, to acquire European parcel carrier InPost in an all-cash tender offer at €15.60 per share. In a separate release, Board Chair R. Brad Martin received several thousand additional shares at no cost as part of his compensation package, bringing his direct holding to about $12.8 million and his total economic exposure, including indirect holdings, to roughly $30 million (approximately KRW 40 billion).

FedEx reiterated that it has submitted the Form 10 registration statement for FedEx Freight’s planned listing, appointed ten directors to the new board, and continues to target June 1 for the spin-off. The company also announced an investor presentation in New York on April 8 to outline the post-spin-off business structure and growth strategy in detail.

Headquartered in the U.S., FedEx is a global integrated logistics provider offering air express, ground package and freight services. It competes with UPS, DHL and others for e-commerce–driven volume. After the pandemic, as shipment growth has slowed and cost pressures increased, the U.S. logistics industry has accelerated network integration, non-core asset divestitures and restructuring to realign toward profitability.