Conti places Euro 750 million Eurobond

ERJ staff report (DS)

Hannover, Germany -- Continental has succesfully placed a Eurobond issue worth Euro 750 million. Last week the company said it expected to place the issue to a value of at least euro 500 million.

With this, the company has completed a further step in improving its debt maturity profile. The notes have a term of five years and will be issued by Conti-Gummi Finance B.V. and guaranteed by Continental Aktiengesellschaft and certain of its subsidiaries. The coupon will be 8.5 percent. Interest will be payable semi-annually in arrears, the company announced in Hanover on Monday.

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Press release from Continental