Continental places 750 million euro bond
Continental AG has successfully placed a 750 million euro bond with qualified investors in and outside of its native Germany.
"With this, the company has completed a further step in improving its debt maturity profile," say Continental officials.
Continental CFO Wolfgang Schafer says the placement is "an important sign of confidence of the capital markets in the company, and a confirmation of our refinancing strategy. We will use the net proceeds to repay a portion of the syndicated (Siemens) VDO facility and will continue to further improve our debt maturity profile."