Deutsche Post refinances bonds to benefit from lower rates
FRANKFURT, Sept 30
FRANKFURT, Sept 30 (Reuters) - German postal services group Deutsche Post said it was issuing 1 billion euros ($1.35 billion) worth of bonds and extending a syndicated credit facility to take advantage of lower borrowing costs.
Deutsche Post plans to place two corporate bonds worth 1 billion euros to refinance a ten-year bond that will mature in January 2014, it said in a statement on Monday.
In addition, the group has renewed ahead of schedule a five-year 2 billion euro syndicated loan facility that it agreed in 2010 with a consortium of banks.
The new credit line, for which it obtained more favorable terms, runs until 2018, with two additional extension options of one year each. ($1 = 0.7385 euros) (Reporting by Ludwig Burger; Editing by Jonathan Gould)
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