A FedEx truck is driven through downtown in

FedEx to Reduce Debt by $2.6 Billion After Bond Offering

The offerings represent the largest series of related debt transactions in its history, the company said in a statement.

Using proceeds from the debt offerings and existing cash, FedEx will eliminate all debt maturities through fiscal year 2025.

The offerings, which will be completed later this month, also include a 600 million euro sustainability bond tranche in Europe to fund its goal of carbon-neutral operations by 2040.

(Reporting by Shreyasee Raj; Editing by Ramakrishnan M.)