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.