FedEx Freight Holding Company, Inc., a wholly owned subsidiary of FedEx Corp., has launched a private offering of senior notes as part of the financing package for its planned spin-off. The Issuer intends to raise approximately $1.5 billion in aggregate principal amount of unsecured senior notes due 2031, subject to market conditions. Proceeds will be used to refinance intercompany debt and establish a standalone capital structure for FedEx Freight, which will operate the company’s less-than-truckload (LTL) freight transportation business post-separation. The spin-off is expected to be completed in the third quarter of this year, following receipt of customary regulatory approvals and board authorizations.

FedEx announced it will cut up to 500 positions in France as part of a €78 million overhaul of its domestic network. Measures include consolidation of ground sorting centers, investment in automation technologies and reconfiguration of delivery routes to improve efficiency. Management projects annual cost savings of €25 million once the restructuring is fully implemented by year-end. The changes affect roles across operations, administration and customer service, with the company offering voluntary departure packages and internal redeployment opportunities where possible.