Conti skids on covenant breach danger
German tyre maker Continental is back in the loan market spotlight this week. The company is in danger of breaching covenants on a Eu13.5bn jumbo facility signed in 2007, and is in talks with its banks about an amendment to the deal. But tension between Schaeffler and Conti has also fired up again, and the tyre maker is accusing Schaeffler of allegedly trying to back out of its takeover agreement. Read EuroWeek on Friday for the latest twists and turns in the saga and for details of Conti’s loan.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts