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(Solved by Expert Tutors) The purpose of this assignment is to evaluate 2 bond issues from >


Fedex. The issues are due 2023 and 2043. Additional sources of information are given below.

What are senior, subordinated, and senior subordinated bonds?
What type are the Fedex bonds? What does this mean?
What are the major provisions for the bond such as sinking fund, etc?
What assets are pledged for the bonds?
If the bonds are called early, what is the payment?
What is the type of year used? Does this benefit the company or investors?
Is there any step up or step down?
What is the use of proceeds?
What is the coupon rate?
How much will Fedex be paying in total interest annually and semi-annually for each issue?
What is the effect on the TIE ratio? Use the May, 2013 statements.
How does the company?s adjusted TIE ratio compare to the industry?
What is the effect on the debt/equity ratio? How does this compare to the industry?
What is the price in dollars?
How much is the discount in dollars?
What is the market yield for the bond?
How does the yield compare to the current market?
Who are the potential investors in the bond? Why would they invest?
What are the major risk factors? How do they affect the payments for the bonds?
Would you invest in the bond? Why or why not?


Resources?



Bond quote from FINRA
http://finra-markets.morningstar.com/BondCenter/Default.jsp

Prospectus
http://www.sec.gov/Archives/edgar/data/230211/000104746913004144/a2214352z424b5.htm

Yahoo Finance bond market information
http://finance.yahoo.com/bonds;.TmYlQ

SEC company search
http://www.sec.gov/edgar/searchedgar/companysearch.html

Fedex 2013 10-K
http://www.sec.gov/cgi-bin/viewer?&&-13-290858&

Industry data
http://csimarket.com/

 


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Apr 19, 2020

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