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United Parcel Service planning to sell floating-rate notes due 2065
By Aleesia Forni
Virginia Beach, Sept. 14 – United Parcel Service, Inc. is pricing floating-rate senior notes due Sept. 15, 2065, according to a 424B5 filing with the Securities and Exchange Commission.
Bookrunners are UBS Securities LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC.
The notes may be called in 2045 at 105 and then at amounts declining annually by 50 bps until 2055, when the notes are callable at par.
The notes are putable from Sept. 15, 2016 to Sept. 15, 2020 at 98, from Sept. 15, 2021 to Sept. 15, 2025 at 99 and on Sept. 15, 2026 and every third year thereafter at par.
Proceeds will be used for general corporate purposes.
The package delivery and supply chain management company is based in Atlanta.
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