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Deutsche Post issues 2 types of bonds worth €1.5B


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Deutsche Post issues 2 types of bonds worth €1.5B

Deutsche Post DHL Group placed two bond issues totaling €1.5 billion on Dec. 6 with national and international investors, the company said in a statement.

The mail and logistics company placed a 0.5% 7.5-year convertible bond with a total principal amount of €1.0 billion and a 1.0% 10-year senior bond with total principal amount of €500 million. The funds will be primarily used to refinance existing liabilities, and to increase assets for pension obligations to employees in the U.K.

The convertible bond may be converted initially into about 18 million registered shares in the company. The issue price amounts to 100.377% of the principal amount.

The initial conversion price was fixed at around €55.69, equivalent to a 40% conversion premium, as determined by the volume-weighted average price of about €39.78 per share of the company on the German exchange, XETRA, trading on Dec. 6, the company added.