As previously announced, the Continental Corporation is launching a further component of its refinancing package. The international automotive supplier has mandated a bank consortium led by Citi and the Royal Bank of Scotland to offer and sell eurodenominated notes to qualified investors internationally. The bank consortium further includes Commerzbank, Deutsche Bank, ING, Landesbank Baden-Württemberg and UniCredit Bank. With an issue volume of at least EUR500 million, the benchmark bond planned will have a maturity of no less than five years. According to a statement issued by the company in Hanover on Monday, a final decision as to the issue volume and the conditions will be made upon conclusion of an investor road show.
Minimum denominations of the announced issue will be Euro 50,000. The notes will be issued by Conti-Gummi Finance B.V., Netherlands, and guaranteed by Continental AG and selected subsidiaries of Continental AG. Application will be made to list the notes on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange. Proceeds of the issue will be applied for partial early retirement of the syndicated loans taken out for the acquisition of VDO from Siemens in 2007.
"The continuing positive trend on automotive markets as well as the current situation on financial markets enables us to move ahead with the refinancing strategy we initiated in 2009. This first placement of a euro benchmark bond will further improve our debt maturity profile," declared Wolfgang Schäfer, CFO of Continental.
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in Australia, Canada, Japan, or the United States of America (the "United States") or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the "Securities Act") or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of the securities in any jurisdiction.
This announcement is directed at and/or for distribution in the United Kingdom only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons are referred to herein as "relevant persons"). This announcement is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.
Minimum denominations of the announced issue will be Euro 50,000. The notes will be issued by Conti-Gummi Finance B.V., Netherlands, and guaranteed by Continental AG and selected subsidiaries of Continental AG. Application will be made to list the notes on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange. Proceeds of the issue will be applied for partial early retirement of the syndicated loans taken out for the acquisition of VDO from Siemens in 2007.
"The continuing positive trend on automotive markets as well as the current situation on financial markets enables us to move ahead with the refinancing strategy we initiated in 2009. This first placement of a euro benchmark bond will further improve our debt maturity profile," declared Wolfgang Schäfer, CFO of Continental.
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in Australia, Canada, Japan, or the United States of America (the "United States") or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the "Securities Act") or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of the securities in any jurisdiction.
This announcement is directed at and/or for distribution in the United Kingdom only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons are referred to herein as "relevant persons"). This announcement is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.
