8-KOther Events

UNITED PARCEL SERVICE INC 8-K Report (Sep 12, 2003)

Filed September 12, 2003For Securities:UPS

Summary

This 8-K filing by United Parcel Service, Inc. (UPS) on September 12, 2003, primarily announces the establishment of a Medium-Term Note (MTN) program for its "UPS Notes." These notes will have maturities of nine months or more. The filing is made in conjunction with UPS's Registration Statement on Form S-3, indicating its intent to access capital markets through the issuance of these debt securities. For investors, this filing signals UPS's proactive approach to managing its capital structure and funding needs. The establishment of an MTN program provides flexibility for the company to raise funds efficiently over time. Investors considering UPS's debt may find this relevant as it outlines the framework for potential future debt issuances and the parties involved in facilitating these transactions.

Key Highlights

  • 1UPS established a Medium-Term Note (MTN) program for its "UPS Notes."
  • 2The UPS Notes will have maturities of nine months or more from the date of issue.
  • 3This action is in connection with UPS's Registration Statement on Form S-3 (File No. 333-108272).
  • 4The purpose is to provide a framework for raising capital through debt issuance.
  • 5The filing includes the Selling Agent Agreement detailing the underwriters involved.
  • 6The form of the UPS Note to be used under the program is also filed as an exhibit.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce the establishment of a Medium-Term Note (MTN) program by UPS, allowing the company to issue debt securities called "UPS Notes" with maturities of nine months or longer.

UPS Notes are debt securities that United Parcel Service, Inc. plans to issue under its newly established Medium-Term Note program. These notes will have maturities of nine months or more from their respective issue dates.

UPS is establishing this program to provide a flexible and efficient way to access capital markets and meet its ongoing funding requirements over the medium term. It allows for the issuance of debt with varying maturities to match its financial needs.

The selling agents involved in this program, as detailed in the Selling Agent Agreement, include ABN AMRO Financial Services Inc., Charles Schwab & Co., Inc., Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. Incorporated, UBS Financial Services Inc., and Wachovia Securities LLC.