D.Logistics sells €7.2 million convertibles

New York, Dec. 7 - D.Logistics AG said it sold €7.2 million of convertible bonds in a rights offering to existing shareholders and in sales to institutional investors.

The five-year bonds were priced at par, pay interest at 7% and convert at a price of €1.80 into 4 million shares.

Proceeds will be used to improve the company's capital structure and to strengthen its operating business.

The Hofheim, Germany, logistics company announced on Nov. 17 that it will sell up to €20 million of the convertibles with equinet Securities AG structuring and placing the bond.

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