Aramex May Tap Debt Market as It Seeks to Fund Acquisitions
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Aramex PJSC, which competes in the Middle East with Deutsche Post’s DHL and United Parcel Service Inc., may tap the debt market for the first time since 2005 as it seeks financing for acquisitions.
“With our acquisitions last year our cash went down, but being a company that has very little debt our debt capacity is quite substantial,” Chief Executive Officer Fadi Ghandour said in a phone interview yesterday. “If we do an acquisition over a certain size we will have to tap the debt market. It will be something between $50 million and $100 million.”