Continental reschedules 2014 loan

ERJ staff report (BC)

Hannover – Tire maker Continental AG is refinancing its syndicated loan facility due to mature in April 2014.

The loan volume is to be reduced slightly – to a total of €4.5 billion – and divided into two tranches with different maturities: a term loan of €1.5 billion to mature in three years, and a five-year revolving credit facility of €3 billion.

Continental said it is “aiming to further improve its financing structure and maturity profile, while … enhancing its flexibility”.

The company also intends…

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