TNT Logistics talks €730 million two-part note offering

By Paul A. Harris

St. Louis, Nov. 29 - TNT Logistics (Louis No. 1 plc) circulated price talk on its €730 million two-part note offering on Wednesday, according to a market source.

The Amsterdam-based logistics company talked its €430 million tranche of eight-year senior notes (B2/B) at the 8½% area and its €300 million tranche of 10-year senior subordinated notes (B3/B-) in the 150 basis points area behind the senior notes.

Credit Suisse, Bear Stearns, Goldman Sachs & Co. and ABN Amro are joint bookrunners for the Rule 144A and Regulation S offering.

The company will also put it place an €805 million credit facility.

Proceeds will be used to help fund Apollo Management, LP's already completed buyout of TNT NV's logistics division for €1.48 billion.

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