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Deutsche Post turns to debt markets for pensions relief

The German postal company has hired four investment banks to raise €2bn in debt, in order to help fund its pension deficit

Germany's Deutsche Post this morning became what is thought to be the first European corporate to issue debt specifically to help plug a deficit in its pension fund.

The German mail and logistics firm has hired BNP Paribas, Citigroup, Deutsche Bank and Morgan Stanley to sell €2bn via one convertible bond and two plain vanilla bonds.

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