Advertisement
Singapore markets closed

  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     

  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • Bitcoin USD

    63,506.78
    -857.65 (-1.33%)
     

  • CMC Crypto 200

    1,329.64
    -66.90 (-4.79%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • Dow

    38,239.66
    +153.86 (+0.40%)
     

  • Nasdaq

    15,927.90
    +316.14 (+2.03%)
     

  • Gold

    2,349.60
    +7.10 (+0.30%)
     

  • Crude Oil

    83.66
    +0.09 (+0.11%)
     

  • 10-Yr Bond

    4.6690
    -0.0370 (-0.79%)
     

  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     

  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     

  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

Fedex CFO - Two years to 'restore credit position' after TNT buy

Reuters

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

Earlier on Tuesday Fedex agreed to buy TNT for 4.4 billion euros, 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)