FedEx Freight Sells $3.7 Billion of Bonds Ahead of Spinoff

FedEx Freight Holding Co. raised $3.7 billion in its debut investment-grade bond sale, ahead of its planned June 1 spinoff from FedEx Corp.

Tuesday’s four-part offering includes notes maturing in three to 10 years, according to a person familiar with the matter. The longest tranche will yield 1.07 percentage points over Treasuries, more than 30 basis points tighter than initial price talk, said the person, who asked not to be identified because they are not authorized to speak publicly.