TNT yesterday successfully placed a benchmark Eurobond offering of £ 450 million (€568 million) andplans to use the transaction proceeds for general business purposes.
The bonds, due August 2018, were priced at an issue price of 99.33 per cent and a coupon of7.500 per cent with settlement on the 14th August 2008. The £ 450 million proceeds have beenswapped into € 568 million with a coupon of 7.14% and a maturity of 14th August 2018, TNT said.
BNP Paribas and HSBC acted as lead managers for the issue. The bonds will be listed onEuronext Amsterdam by NYSE Euronext.
TNT shares, which have fluctuated strongly in recent weeks following media speculation aboutpossible talks with FedEx, closed yesterday up 6.36% at €23.93.
