Schaeffler plans to launch U.S. and euro term loans on Thursday

By Sara Rosenberg

New York, April 23 - Schaeffler will hold a call at 9 a.m. ET on Thursday to launch a new euro/U.S. six-year term loan, according to a market source.

Deutsche Bank Securities Inc. and HSBC Securities are the bookrunners on the deal, with Deutsche Bank the left lead on the U.S. piece and HSBC the left lead on the euro piece.

Proceeds will be used to refinance an existing roughly €1.6 billion term loan C, with a potential upsizing, and amendment requests to enhance operational and financial flexibility, the source added.

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.