.
- Initial issuance of benchmark bonds in Euro and USD of approx. 1 billion Euro in total
- BNP Paribas, Deutsche Bank, HSBC, JP Morgan are joint global coordinators
- Bonds are rated by Standard & Poor's and Moody's
Schaeffler AG initiates the first step of its new refinancing package and launches its announced bond program.
Schaeffler AG has mandated a group of banks to place secured Euro and U.S. dollar-denominated benchmark bonds of approximately one billion Euro in total with institutional investors. The bonds are expected to have maturities of five to seven years. The issue size and the final terms will be determined at the end of the investor road show.
The bonds will be issued by Schaeffler Finance B.V., Netherlands, and guaranteed by Schaeffler AG and selected subsidiaries. They are to be traded on the open market of the Luxembourg Stock Exchange.
The issuance is led by BNP Paribas, Commerzbank, Deutsche Bank, HSBC, JP Morgan, LBBW, Royal Bank of Scotland and Unicredit. BNP Paribas, Deutsche Bank, HSBC and JP Morgan act as joint global coordinators and joint managing bookrunners.
In preparation of the refinancing transaction, Schaeffler AG's corporate credit and bond ratings have been assessed by two leading international rating agencies. The ratings will be released shortly by Standard & Poor's and Moody's.
"This benchmark bond issue is the first step to implementing our new financing structure, and an important component for the optimization of our capital structure," said Klaus Rosenfeld, CFO of Schaeffler AG.
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 document has been prepared on the basis that there was no public offering in connection with this transaction nor will there be a public offering of the securities. No approved prospectus was or will be prepared in connection with this transaction. Any offer of securities in any Member State of the European Economic Area ("EEA") which has implemented the Prospectus Directive (2003/71/EC), as amended, including any relevant implementing measures to implement the Directive 2010/73/EU, (each, a "Relevant Member State") will only be made if no prospectus for offers of securities has to be published. Accordingly any person making or intending to make any offer in that Relevant Member State of securities which are the subject of the placement contemplated in this announcement may only do so in circumstances in which no obligation arises for Schaeffler to publish a prospectus pursuant to Article 3 of the Prospectus Directive (as amended by the Directive 2010/73/EU, to the extent such amendments have already been implemented in the Relevant Member State) or supplement a prospectus pursuant to Article 16 of the Prospectus Directive (as amended by the Directive 2010/73/EU, to the extent such amendments have already been implemented in the Relevant Member State), in each case, in relation to such offer. Schaeffler has not authorized, nor does it authorize, the making of any offer of securities in circumstances in which an obligation arises for Schaeffler to publish or supplement a prospectus for such offer.
Please find further information on our website: www.schaeffler-gruppe.de/ir
- Initial issuance of benchmark bonds in Euro and USD of approx. 1 billion Euro in total
- BNP Paribas, Deutsche Bank, HSBC, JP Morgan are joint global coordinators
- Bonds are rated by Standard & Poor's and Moody's
Schaeffler AG initiates the first step of its new refinancing package and launches its announced bond program.
Schaeffler AG has mandated a group of banks to place secured Euro and U.S. dollar-denominated benchmark bonds of approximately one billion Euro in total with institutional investors. The bonds are expected to have maturities of five to seven years. The issue size and the final terms will be determined at the end of the investor road show.
The bonds will be issued by Schaeffler Finance B.V., Netherlands, and guaranteed by Schaeffler AG and selected subsidiaries. They are to be traded on the open market of the Luxembourg Stock Exchange.
The issuance is led by BNP Paribas, Commerzbank, Deutsche Bank, HSBC, JP Morgan, LBBW, Royal Bank of Scotland and Unicredit. BNP Paribas, Deutsche Bank, HSBC and JP Morgan act as joint global coordinators and joint managing bookrunners.
In preparation of the refinancing transaction, Schaeffler AG's corporate credit and bond ratings have been assessed by two leading international rating agencies. The ratings will be released shortly by Standard & Poor's and Moody's.
"This benchmark bond issue is the first step to implementing our new financing structure, and an important component for the optimization of our capital structure," said Klaus Rosenfeld, CFO of Schaeffler AG.
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 document has been prepared on the basis that there was no public offering in connection with this transaction nor will there be a public offering of the securities. No approved prospectus was or will be prepared in connection with this transaction. Any offer of securities in any Member State of the European Economic Area ("EEA") which has implemented the Prospectus Directive (2003/71/EC), as amended, including any relevant implementing measures to implement the Directive 2010/73/EU, (each, a "Relevant Member State") will only be made if no prospectus for offers of securities has to be published. Accordingly any person making or intending to make any offer in that Relevant Member State of securities which are the subject of the placement contemplated in this announcement may only do so in circumstances in which no obligation arises for Schaeffler to publish a prospectus pursuant to Article 3 of the Prospectus Directive (as amended by the Directive 2010/73/EU, to the extent such amendments have already been implemented in the Relevant Member State) or supplement a prospectus pursuant to Article 16 of the Prospectus Directive (as amended by the Directive 2010/73/EU, to the extent such amendments have already been implemented in the Relevant Member State), in each case, in relation to such offer. Schaeffler has not authorized, nor does it authorize, the making of any offer of securities in circumstances in which an obligation arises for Schaeffler to publish or supplement a prospectus for such offer.
Please find further information on our website: www.schaeffler-gruppe.de/ir
