Schaeffler Finance plans €1.55 billion term loan D for refinancing

By Sara Rosenberg

New York, April 22 - Schaeffler Finance BV is planning on getting a €1,553,000,000 term loan D that is priced at Euribor plus 325 basis points, according to a market sources.

Deutsche Bank Securities Inc., Barclays, BayernLB, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Commerzbank, HSBC Securities Inc., J.P. Morgan Securities LLC, Landesbank Baden-Wurttemberg and Unicredit Group are the lead banks on the deal.

Proceeds from the term loan D and €1 billion of new senior secured notes will be used to help repay existing bank debt that was obtained in March.

Specifically, the company plans on paying down €2,192,000,000 of its term loan A, €504 million of its term loan B, €16 million of its euro term loan C and €34 million of its U.S. term loan C.

Schaeffler is a Herzogenaurach, Germany-based manufacturer of bearings for autos & industrial OEMs.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.