UPS launches $2 bln notes in two-part sale - IFR

[cheryl]

UPS launches $2 bln notes in two-part sale - IFR - Reuters

The offering includes $1 billion in five-year notes expected to yield 230 basis points over U.S. Treasuries and $1 billion in 10-year notes expected to yield 255 basis points over Treasuries.

 

[pickup]

I thought ups was sitting on a ton of cash. What do they need to raise this money for?

 

[IWorkAsDirected]

To keep all the corporate people happy, raises, redecorate offices etc????

 

[pickup]

what a smuck I am, I thought it was $2 bin notes, not 2 bln (as in 2 billion). After reading the latest posting about ups filing with the sec their plans. I was doing the math and realized the amounts came out to 2 billion dollars. I thought bin notes were some kind of special debt obligations. Now it makes sense.