DSV – €5bn bond package details

DSV said this week it “has through DSV Finance B.V. successfully placed and closed an aggregate principal amount of EUR 5.0 billion senior unsecured notes (the “Notes”) in six tranches under its EMTN Programme”.

It added:

“The Notes will be issued 6 November 2024 at an average price of 99.669% and will be listed on Euronext Dublin. The Notes will have an average duration of 5.5 years and an average coupon rate of 3.250% based on the 3mEuribor rate at the time of pricing. Five out of the six tranches have a fixed coupon rate.”

Net proceeds from the transaction “will be used for funding the acquisition of Schenker AG, including reducing the commitments under the Bridge Facilities Agreement”.

The full release, including full details of the six tranches, is here.