Advertisement
U.S. markets open in 9 hours 4 minutes
  • S&P Futures

    5,211.25
    -3.50 (-0.07%)
     
  • Dow Futures

    39,223.00
    0.00 (0.00%)
     
  • Nasdaq Futures

    18,194.25
    -37.25 (-0.20%)
     
  • Russell 2000 Futures

    2,050.20
    +0.40 (+0.02%)
     
  • Crude Oil

    82.72
    0.00 (0.00%)
     
  • Gold

    2,165.40
    +1.10 (+0.05%)
     
  • Silver

    25.35
    +0.09 (+0.34%)
     
  • EUR/USD

    1.0875
    -0.0001 (-0.01%)
     
  • 10-Yr Bond

    4.3400
    -4.3400 (-100.00%)
     
  • Vix

    14.33
    -0.08 (-0.56%)
     
  • GBP/USD

    1.2721
    -0.0008 (-0.06%)
     
  • USD/JPY

    149.8630
    +0.7650 (+0.51%)
     
  • Bitcoin USD

    65,339.60
    -2,519.75 (-3.71%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,722.55
    -4.87 (-0.06%)
     
  • Nikkei 225

    39,749.84
    +9.44 (+0.02%)
     

Fedex CFO: 2 years to "restore credit position" after TNT buy

AMSTERDAM, April 7 (Reuters) - Fedex will take about two years to get its debt leverage ratio back to current levels after it buys TNT Express, Chief Financial Officer Alan Graf said on Tuesday.

Earlier on Tuesday Fedex agreed to buy TNT for 4.4 billion euros ($4.8 billion), paying for the purchase with debt. .

Speaking on a conference call with analysts, Graf said the company plans to "get our credit metrics back to where they are in about 24 months."

On March 18 Fedex reported its net long term debt stood at $7.23 billion at the end of February. In the same report, it put shareholders' equity at $16 billion.

(Reporting By Toby Sterling; Editing by Greg Mahlich)

Advertisement