White & Case advises consortium of banks on Schaeffler €1 billion bond issuance

Global law firm White & Case LLP has advised a consortium of banks, comprising six banks, on the issuance of two tranches of fixed rate notes of Schaeffler AG (Schaeffler) with an aggregate principal amount of €1 billion.

The first tranche has a principal amount of €500 million, a three-year term and a fixed coupon of 4.125%. The second tranche has a principal amount of €500 million, a seven-year term and a fixed coupon of 5.000%. Schaeffler intends to use the net proceeds of the issuance for general corporate and financing purposes.

The Notes were admitted to trading on the regulated market of the Luxembourg Stock Exchange.

The White & Case team in Frankfurt which advised on the transaction was led by partner Karsten Wöckener and included counsel Peter Becker and associate Darleen Stöckl.

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