United Parcel Service Announces Financing for Offer to TNT Express in Place

United Parcel Service (UPS) announced it has the necessary financing in place for its intended recommended public offer for TNT Express NV (TNT Express). On March 19, 2012, UPS and TNT Express jointly announced conditional agreement on a recommended all-cash offer of EUR 9.50 per ordinary share for TNT Express. The offer values 100% of the issued and outstanding TNT Express ordinary shares at approximately EUR 5.16 billion. UPS will finance the Offer by using approximately EUR 3.7 billion of available cash on its balance sheet and approximately EUR 1.46 billion in debt through existing credit facilities. The Offer Memorandum is expected to be published and the Offer is expected to commence during the second quarter.