DSV: Bond sale does not go to war chest

"We're not building a bigger war chest," says DSV CFO Jens Lund about the company's USD 280.3 million bond sale aimed at replacing bank debt.

On Tuesday, DSV sold bonds for USD 280.3 million. Investors hoping that this move means the company is looking at further asset boosting acquisitions should turn their optimism down a notch. The funds will be used to replace bank debt and to ensure that DSV's funding has a broad base, CFO Jens H. Lund tells Ritzau Finans.

The transport giant issued bonds for a total USD 280.3 million. The issuance consists of bonds for USD 140.1 million at a 3.5 percent interest rate, and USD 140.1 million at an interest rate of 3 months Cibor plus 185 basis points.

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