FedEx Freight has arranged two new credit facilities to support its planned spinoff from FedEx Corp. The company entered into a five-year, $1.2 billion revolving-credit facility and a three-year, $600 million delayed-draw term-loan facility. These commitments will be available upon completion of the separation, expected on June 1, 2026, and will fund working-capital needs, capital expenditures and potential strategic initiatives. Goldman Sachs & Co. LLC acted as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel on the transactions.

FedEx Corp. has filed a Form 10 registration statement with the U.S. Securities and Exchange Commission in advance of spinning off its less-than-truckload (LTL) unit. The document underscores the company’s plan to position FedEx Freight as a focused, industry-leading carrier with a network of approximately 355 service centers, nearly 30,000 vehicles and 39,000 employees across North America. Management forecasts sustained profitable growth, strong cash generation and disciplined capital allocation, targeting high-return investments in technology and infrastructure while maintaining best-in-class transit times and reliability.

FedEx Corp. has announced the composition of the board of directors for the soon-to-be independent FedEx Freight. R. Brad Martin, executive chairman of the FedEx Corp. board, will chair the new board alongside John Smith, incoming president and CEO of FedEx Freight. The board includes executives with deep experience in transportation, logistics, supply-chain management and finance: former CFOs of major retailers and restaurant chains, former senior executives from Delta Air Lines and UPS, and specialists in corporate governance and public policy. Their combined expertise is expected to guide FedEx Freight through its transition to a standalone public company.