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Deutsche Post AG Announces Issuance of up to EUR 2.0 Billion via Convertible Bond and Two Conventional Bonds

Tuesday, 4 Dec 2012 02:11am EST 

Deutsche Post AG announced that it plans to use an array of financing instruments to secure funds of up to EUR 2.0 billion in total for this purpose. The convertible bond and the conventional bonds are expected to be issued on December 4, 2012. The Company launched an offer of an unsubordinated, unsecured convertible bond convertible into ordinary registered shares of Deutsche Post AG. The offering size will be up to EUR 1.0 billion, based on the initial conversion price convertible into approximately 48 million ordinary registered shares of the Company. The convertible bond, which will be offered only to institutional investors outside of the United States by way of an accelerated bookbuilding, will have a maturity of seven years and will be issued and redeemed at 100% of their principal amount should it not be converted. The initial conversion price will be set at a conversion premium of 30% above the volume weighted average price of Deutsche Post AG's shares on XETRA during the bookbuilding period with a coupon range between 0.25% and 0.95%. The convertible bond is callable by the Company after the first five years if the XETRA price of Deutsche Post AG's shares exceeds 130% of the then applicable conversion price. Settlement is expected to be on December 6, 2012. Moreover, the Company plans to issue two conventional bonds with terms of eight years and 12 years, respectively. The two conventional bonds are planned to have a total volume of approximately EUR 1.0 billion. 

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15 Aug 2014