May 11--UPS (NYSE: UPS) today announced it has the necessary financing in place for its intended recommended public offer for TNT Express N.V. (NYSE Euronext: TNTE).

On March 19, 2012, UPS and TNT Express jointly announced conditional agreement on a recommended all-cash offer of EUR 9.50 per ordinary share for TNT Express (the "Offer").

The Offer values 100% of the issued and outstanding TNT Express ordinary shares at approximately EUR 5.16 billion. UPS will finance the Offer by using approximately EUR 3.7 billion of available cash on its balance sheet and approximately EUR 1.46 billion in debt through existing credit facilities.

In line with regulatory requirements, UPS will submit a request for approval of its Offer Memorandum to the Netherlands Authority for the Financial markets later today. The Offer Memorandum is expected to be published and the Offer is expected to commence during the second quarter in accordance with the applicable timetable.