UPS issues $1.5 billion in bonds for pension contributions, other capital needs - Pensions & Investments
United Parcel Service Inc., Atlanta, issued $1.5 billion in bonds and plans to use part of the net proceeds from the sale to make early contributions to its U.S. pension plans, the company disclosed in a recent filing with the Securities and Exchange Commission.
UPS specifically intends to use the bond proceeds "to make early contributions to certain of our primary domestic pension plans, to repay commercial paper and for general corporate purposes," the Tuesday filing said.
"The offering closed today and we issued $1.5 billion in long-term debt with varying maturities," a UPS spokesman said in an email Friday. "UPS routinely accesses public debt markets to satisfy its capital requirements," the spokesman later added.
United Parcel Service Inc., Atlanta, issued $1.5 billion in bonds and plans to use part of the net proceeds from the sale to make early contributions to its U.S. pension plans, the company disclosed in a recent filing with the Securities and Exchange Commission.
UPS specifically intends to use the bond proceeds "to make early contributions to certain of our primary domestic pension plans, to repay commercial paper and for general corporate purposes," the Tuesday filing said.
"The offering closed today and we issued $1.5 billion in long-term debt with varying maturities," a UPS spokesman said in an email Friday. "UPS routinely accesses public debt markets to satisfy its capital requirements," the spokesman later added.
