Bpost secures 1 billion euros in bonds for Staci acquisition

With the raising of capital, the 1.3 billion euros deal is finalized.

Belgium's postal service Bpost has successfully raised 1 billion euros through two bond issues to finance its largest acquisition to date, the French logistics group Staci.

This marks the finalization of the 1.3 billion euros deal, which was initially funded through a temporary bridge loan.

The bond offering is split evenly between a five-year bond with a 3.29 percent interest rate and a ten-year bond offering 3.63 percent.

According to Bpost, the bonds, rated A- by S&P, saw strong demand from institutional investors and were oversubscribed by more than four times.

Although analysts have been skeptical of the acquisition due to its high price - 14 times Staci’s earnings - Bpost’s CEO, Chris Peeters, defends the move as key to transforming the company into a logistics provider, beyond its declining traditional mail service.

Source: De Tijd

Related articles

Picks and shovels: David Theys (KPMG) on AI, family businesses and the future of Belgian M&A

David Theys has spent more than 25 years moving through the world's financial capitals – in London, Paris, Moscow, Dubai, Hong Kong – before settling, a decade ago, back in Belgium. Today he lives in Antwerp and is based close to Brussels, but his career reads like a map of global finance: investment banking, corporate finance, restructuring, debt advisory, valuation.

Top