Deutsche Post launches onto the bond market

German post office company Deutsche Post is preparing a bond in five and ten year tranches for up to €1bn via Credit Suisse First Boston, Deutsche Bank and Morgan Stanley. Meanwhile the flotation of a jumbo bond from the Republic of Italy is closing on 29 August. The lead managers, Salomon Smith Barney, Merrill Lynch and UBS Warburg state that the bond is being offered at a 45 base point margin over the fifteen year Treasury bonds that were yielding 3.28 per cent as of 28 August. German bank KfW is issuing a bond for $1bn rated at Aaa /AAA/AAA. Bear Stearns and Merrill Lynch are acting as lead managers. Pharmaceuticals group GlaxoSmithKline has a $250m bond on the market via Deutsche Bank and Lehman Brothers. The two-year bond is rated Aa2/AA.