8-KOther Events

UNITED PARCEL SERVICE INC 8-K Report (Jan 29, 2001)

Filed January 29, 2001For Securities:UPS

Summary

United Parcel Service, Inc. (UPS) has filed a Current Report on Form 8-K detailing the establishment of a Medium-Term Note (MTN) program. This program, effective January 29, 2001, allows UPS to issue "UPS Notes" with maturities of nine months or longer. This initiative is part of their broader registration efforts under a Form S-3 registration statement. The filing primarily serves to disclose the related documentation, including the Selling Agent Agreement and the form of the UPS Note itself, which outlines the terms of these debt instruments. Investors should view this as a standard corporate finance action to provide ongoing access to capital markets for various corporate needs, including potential refinancing or funding for operational growth.

Key Highlights

  • 1UPS has established a Medium-Term Note (MTN) program for issuing "UPS Notes" with maturities of 9 months or more.
  • 2This program was established on January 29, 2001, and is linked to a Registration Statement on Form S-3.
  • 3The filing includes the Selling Agent Agreement, naming several prominent financial institutions as agents.
  • 4The Form of UPS Note is also provided, which details the terms and conditions of the debt securities to be issued.
  • 5This action indicates UPS's proactive approach to managing its capital structure and ensuring access to funding.
  • 6The MTN program allows for flexible debt issuance to meet ongoing financial requirements.

Frequently Asked Questions

The primary purpose of this filing is to announce and provide documentation for the establishment of United Parcel Service's Medium-Term Note (MTN) program. This program allows UPS to issue debt securities, known as UPS Notes, in the capital markets with maturities of nine months or longer.

UPS Notes are debt instruments that UPS will issue under its new Medium-Term Note program. These notes will have maturities ranging from nine months upwards. The issuance will be facilitated through a group of selling agents appointed under a Selling Agent Agreement.

Establishing an MTN program is a common corporate finance strategy that provides companies with ongoing flexibility to access capital markets for various purposes. This could include funding general corporate operations, refinancing existing debt, or financing growth initiatives. It allows UPS to tap into debt markets efficiently as needed.

The Selling Agent Agreement names a syndicate of financial institutions as selling agents. These include ABN AMRO Incorporated, Charles Schwab & Co., Inc., Edward D. Jones & Co., L.P., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. Incorporated, PaineWebber Incorporated, Salomon Smith Barney Inc., and Loop Capital Markets.