Schaeffler AG Issues 1.15 Billion Euros in Bonds

Schaeffler AG has successfully issued 1.15 billion euros in corporate bonds. The placement includes two tranches: 550 million euros at 4.250% due April 2028, and 600 million euros at 5.375% due April 2031. This move reflects strong demand as the bonds were oversubscribed. The proceeds are earmarked for general corporate purposes.

Claus Bauer, Schaeffler’s CFO, emphasized the importance of this refinancing post their merger with Vitesco. He noted the market's trust, particularly regarding the 6-year tranche. The bonds will be listed on Luxembourg's regulated market and have been managed by ING, Mizuho, Santander, and UniCredit.

The bonds are marketed exclusively to professional clients and eligible counterparties, and they are not available to retail investors in the EEA and the UK.