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PostNL (TNTNA) Delivers Good News

05 December 2013 by HCM

This is the first of our daily comment, a column we will try and fed with news from the credit market and how it can be analysed through the prism of DataGrapple.
Thursday December 5th was a day where the pace was set by central banks’ decisions (or absence of…) and comments. The tone was generally softer as evidenced by the different shades of red that dominate this grapple. One notable exception was TNTNA (PostNL NV) which announced its plan to sell roughly half its stake in TNT Express (TNT Express NV)through a private placement and stated its intention to use the 500M€ proceeds to reduce debt. The recent inclusion of PostNL in the CrossOver might prove very temporary.