EQS-News

Schaeffler AG successfully places a bond in the amount of 850 million euros

EQS-News: Schaeffler AG / Key word(s): Bond/Issue of Debt Schaeffler AG successfully places a bond in the amount of 850 million euros 22.03.2024 / 08:06 CET/CEST The issuer is solely responsible for the content of this announcement. NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN    Schaeffler AG successfully places a bond in the amount of 850 million euros

Herzogenaurach, Germany | March 22, 2024 | Yesterday, Schaeffler AG successfully placed a corporate bond with a volume of 850 million euros with international investors.

The issuance comprises a euro bond in the amount of 850 million euros with an interest rate of 4.50 percent p.a. and a term until 2030.

The bond placement was carried out under Schaeffler’s current debt issuance program and will be used to refinance the acquisition of the shares in Vitesco Technologies Group AG and to further optimize the financing structure of Schaeffler AG.

Claus Bauer, Chief Financial Officer of Schaeffler AG, said: “With the most recent bond issuance, we have succeeded in optimizing the financing structure of Schaeffler AG even further. The entire acquisition of Vitesco shares is now fully financed on a long-term basis and another milestone of the transaction has been achieved.”

Settlement of the new bond is planned for March 28, 2024. The bond will be listed on the regulated market of the Luxembourg Stock Exchange. BNP Paribas, BofA Securities, Citigroup, and Deutsche Bank, which have already advised on the syndication process for the bridge financing and the bond issuance in January 2024 to finance the acquisition of the Vitesco shares in the context of the public tender offer, acted as Joint Active Bookrunners for the bond placement.

Here you can find press photos of Claus Bauer:
www.schaeffler.com/en/executive-board

 

Forward-looking statements and projections

Certain statements in this press release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this press release. Statements contained in this press release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.