BERLIN (dpa-AFX) - Schaeffler AG (SCFLF.OB), a German maker of rolling element bearings for industrial uses, said that it has placed a corporate bond with a volume of 850 million euros with international investors with an interest rate of 4.50 percent a year for a term until 2030.
The bond placement will be used to refinance the acquisition of the shares in Vitesco Technologies Group AG and to further optimize the financing structure of Schaeffler.
Claus Bauer, CFO 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.'
The settlement of the new bond is scheduled for March 28, 2024 and will be listed on the regulated market of the Luxembourg Stock Exchange.
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