Continental will issue additional bonds
Continental AG will issue additional Eurobonds "in response to continued strong demand," according to company officials.
"A maximum issue volume of 1.25 billion euros and two tranches with maturities in 2016 and 2018 are planned. The issue volume and conditions are expected to be finalized in the next few days."
Continental CFO Wolfgang Schafer says the company has received feedback "that there continues to be strong demand for Continental bonds. The bonds we have already placed were significantly oversubscribed. In response... we have decided to issue further bonds with timining in close connection to the predecessors.
"This will help us to quickly achieve our goal of significantly improving the maturity profile. We will again use the issue proceeds for the partial, early repayment of our bank liabilities."