Fedex debuts sustainability bond in Europe’s dominant mart
FedEx, the US delivery company, picked Europe to print its debut sustainability bond on Tuesday, as the region’s green and environmental, social and governance debt market is “years ahead” of the US.
Fedex, rated BBB by S&P, started bookbuilding an eight year (March 2029) sustainability note at 80bp-85bp over mid-swaps and a conventional May 2033 at 105bp.
Both tranches were flagged for an expected €500m. ING and Mizuho ran the sale.The borrower opted for Europe for its first sustainability bond ...