.
- Total volume of €750 million
- Term of five years, coupon of 3.0 percent per annum
- Proceeds to be used for partial early refinancing of the bond issued in September 2010
The international automotive supplier Continental successfully placed another Eurobond with a nominal amount of €750 million with institutional and retail investors in Germany and abroad. The bond issued by Continental AG under the recently established Debt Issuance Programme has a term of five years and an interest rate of 3.0 percent per annum. Interest will be payable semi-annually in arrears. The issue price is 98.95 percent. The bond is expected to be issued on July 16, 2013. It shall be listed on the Regulated Market of the Luxembourg Stock Exchange. BNP Paribas, Citi, Deutsche Bank, ING and UniCredit act as joint-bookrunners on that transaction.
"We managed to use the positive capital market environment to reduce our interest costs and further improve our debt maturity profile at the same time. The significant oversubscription again is a sign of confidence by the investors," explained Chief Financial Officer Wolfgang Schäfer. The proceeds of that transaction will be used for the partial early refinancing of the bond issued in September 2010.
Continental calls the 7.5 percent Eurobond with a nominal amount of €1 billion that has been issued in September 2010 by its subsidiary Conti-Gummi Finance B.V. (ISIN DE000A1A0U37) for early redemption. The bond will be terminated early and will be due for repayment on September 16, 2013, i.e. four years prior to the original maturity. The agreed redemption price is 103.75 percent. The respective call notice has already been sent to the notes representative and to the clearing system for notification to the bondholders.
With sales of €32.7 billion in 2012, Continental is among the leading automotive suppliers worldwide. As a supplier of brake systems, systems and components for powertrains and chassis, instrumentation, infotainment solutions, vehicle electronics, tires, and technical elastomers, Continental contributes to enhanced driving safety and global climate protection. Continental is also an expert partner in networked automobile communication. Continental currently has approximately 173,000 employees in 46 countries.
- Total volume of €750 million
- Term of five years, coupon of 3.0 percent per annum
- Proceeds to be used for partial early refinancing of the bond issued in September 2010
The international automotive supplier Continental successfully placed another Eurobond with a nominal amount of €750 million with institutional and retail investors in Germany and abroad. The bond issued by Continental AG under the recently established Debt Issuance Programme has a term of five years and an interest rate of 3.0 percent per annum. Interest will be payable semi-annually in arrears. The issue price is 98.95 percent. The bond is expected to be issued on July 16, 2013. It shall be listed on the Regulated Market of the Luxembourg Stock Exchange. BNP Paribas, Citi, Deutsche Bank, ING and UniCredit act as joint-bookrunners on that transaction.
"We managed to use the positive capital market environment to reduce our interest costs and further improve our debt maturity profile at the same time. The significant oversubscription again is a sign of confidence by the investors," explained Chief Financial Officer Wolfgang Schäfer. The proceeds of that transaction will be used for the partial early refinancing of the bond issued in September 2010.
Continental calls the 7.5 percent Eurobond with a nominal amount of €1 billion that has been issued in September 2010 by its subsidiary Conti-Gummi Finance B.V. (ISIN DE000A1A0U37) for early redemption. The bond will be terminated early and will be due for repayment on September 16, 2013, i.e. four years prior to the original maturity. The agreed redemption price is 103.75 percent. The respective call notice has already been sent to the notes representative and to the clearing system for notification to the bondholders.
With sales of €32.7 billion in 2012, Continental is among the leading automotive suppliers worldwide. As a supplier of brake systems, systems and components for powertrains and chassis, instrumentation, infotainment solutions, vehicle electronics, tires, and technical elastomers, Continental contributes to enhanced driving safety and global climate protection. Continental is also an expert partner in networked automobile communication. Continental currently has approximately 173,000 employees in 46 countries.
