FRANKFURT, Dec 4 (Reuters) - Deutsche Post will raise up to 2 billion euros ($2.6 billion) in funds for its pension obligations by issuing three bonds, taking advantage of low financing rates, it said on Tuesday.
The issuance is expected to have a positive effect on the group’s financial result and its net income, it added.
The group plans to issue a convertible bond of up to 1 billion euros and two conventional bonds for a further 1 billion euros, all on Tuesday.
The convertible bond will have maturity of seven years with a coupon range between 0.25 percent and 0.95 percent, while the conventional bonds will have terms of 8 and 12 years.
Deutsche Post currently has a Moody’s credit rating of Baa1 and BBB+ from Fitch. ($1 = 0.7650 euros) (Reporting by Victoria Bryan)