US Stock IR Daily – May 22, 2026 (2 reports)

• Merck & Co., Inc. completed an underwritten public offering of an aggregate principal amount of $5.5 billion in notes on May 22, 2026.
• The offering included $500,000,000 aggregate principal amount of Floating Rate Notes due 2028.
• Other notes issued comprise $1,000,000,000 of 4.300% Notes due 2028, $500,000,000 of 4.650% Notes due 2031, $1,000,000,000 of 4.950% Notes due 2033, $1,500,000,000 of 5.200% Notes due 2036, $500,000,000 of 5.750% Notes due 2046, and $1,000,000,000 of 5.850% Notes due 2056.
• These notes were issued under an indenture dated January 6, 2010.

Merck’s successful completion of a substantial $5.5 billion note offering may suggest a strategic move to bolster its financial liquidity and fund future corporate activities. The issuance of notes with various maturities and interest rate structures could indicate an approach to optimize its capital structure and manage interest rate risk effectively. Investors might monitor how these newly acquired funds will be deployed in relation to the company’s operational plans and strategic investments.

• FedEx Corporation issued a notice on May 13, 2026, for the full redemption of all €354,878,000 aggregate principal amount of its 1.300% Notes due 2031 (ISIN: XS2034629134, NYSE: FDX 31).
• The redemption date for these Notes is scheduled for May 28, 2026.
• A supplemental notice issued on May 22, 2026, confirmed the aggregate redemption price to be €358,619,289.16.
• This redemption price includes €3,741,289.16 of accrued and unpaid interest to the redemption date.
• The redemption price is defined as the greater of (i) 100% of the principal amount or (ii) the sum of the present values of the remaining scheduled payments of principal and interest to the par call date (May 5, 2031), plus accrued and unpaid interest.

FedEx’s decision to fully redeem its Euro-denominated notes prior to maturity may suggest a strategic financial maneuver. Such redemptions often indicate an effort to optimize debt structure, reduce interest expenses, or utilize available cash flow. Investors may consider this action as a reflection of the company’s financial health and its ongoing capital management strategy.