Schaeffler uses Conti shares sale to reduce loan facility

The holding company of car parts maker Schaeffler has refinanced an outstanding credit facility and decreased the size from Eu7.4bn to Eu4.8bn, funded by the sale of Eu1.8bn of shares of Continental held by two banks on Schaeffler’s behalf and as part of a wider restructuring of the Schaeffler group’s debt.

  • 01 Apr 2011

The interest rate for the facility for Schaeffler Holding, which was agreed in August 2009 with Commerzbank, LBBW, Royal Bank of Scotland, UBS and UniCredit, has been cut to under 10% from around 17%.

Schaeffler Holding will use Eu400m of operating cash and Eu600m of cash from the operating ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,084 31 17.18
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.97
3 Citi 8,093 21 9.22
4 Lloyds Bank 7,329 24 8.35
5 JP Morgan 6,580 10 7.49

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 128,786.28 373 11.20%
2 Bank of America Merrill Lynch 102,784.89 298 8.94%
3 JPMorgan 100,935.67 292 8.78%
4 Wells Fargo Securities 91,306.23 262 7.94%
5 Credit Suisse 75,962.58 202 6.61%