DEUTSCHE POST INCREASES BOND ISSUE TO $1.45 BILLION

DEUTSCHE POST INCREASES BOND ISSUE TO $1.45 BILLION

   Deutsche Post World Net, the postal service and logistics group, has announced that it will increase an over-subscribed bond issue to 1.5 billion euro (about $1.45 billion).

   “The original size of the issue has been increased by half a billion euro to 1.5 billion euro as it was oversubscribed six times,” a spokesman said.

   To accommodate investor interest, the bond will be issued in two tranches with terms, of five and 10 years respectively.

   Edgar Ernst, chief financial officer, said that another positive factor was that Deutsche Post World Net, as a leading global logistics group, was issuing a bond.

   Deutsche Post is the parent company of Danzas and is a major shareholder in DHL.