TPG LAUNCHES EUR 1 BILLION INAUGURAL EUROBOND
TPG, the global provider of mail and express and logistics services, has launched its inaugural Eurobond in the amount of EUR 1 billion with a maturity of seven years. The Eurobond has a coupon of 5.125 percent, a spread of 62 basis points over mid-swaps. The bond will be listed on the Euronext Amsterdam Exchange.
The purpose of this transaction, the company said, is to re-finance existing short-term facilities. The launch follows an extensive European road show, which attracted positive interest from investors.
TPG, with its two brands TNT and Royal PTT Post, employs approximately 139,000 people in 58 countries, while serving over 200 countries. The company reported sales of EUR 9.9 billion in 2000, which have grown by 16.6 percent in the first three quarters of 2001.