Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Schaeffler Said to Set Pricing on 6 Billion Euros of Loans

Schaeffler AG, the roller-bearing maker that controls tire company Continental AG, has set pricing on 6 billion euros ($7.9 billion) of loans used to refinance debt, according to three people with direct knowledge of the deal.

A 1 billion-euro revolving credit facility and a 3 billion-euro term loan B that mature in 2015 will pay initial interest of 425 basis points more than the euro interbank offered rate, said the people, who declined to be identified as the transaction is private.

Two 1 billion-euro term loans denoted C1 and C2 and maturing in 2017 will pay interest of 550 basis points more than benchmark rates, said the people. The C1 tranche is currently being held by banks and the C2 tranche is being offered to investors at a price of 97 percent of face value and with a 1.5 percent floor on the benchmark lending rate, two of the people said.

BNP Paribas SA, Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase & Co., Commerzbank AG, Landesbank Baden-Wuerttemberg, Royal Bank of Scotland Group Plc and UniCredit SpA arranged the financing, according to data compiled by Bloomberg.

Schaeffler sold 2 billion euros of bonds this week, double the amount planned, the Herzogenaurach, Germany-based company said today in a statement.

Proceeds from the bond sale will be used to refinance a 2 billion-euro bridge loan taken as part of an 8 billion-euro debt facility in January, the people said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.