White & Case advises MAHLE on tap issuance of €200 million senior notes due 2032 and concurrent tender offer

Global law firm White & Case LLP has advised MAHLE GmbH on the successful tap issuance of an aggregate principal amount of €200 million in addition to its existing €300 million 7.125% senior notes due 2032, and a further concurrent tender offer for a partial cash acquisition of MAHLE's outstanding 2.375% existing notes due 2028.

The additional notes will form a single series with the existing notes issued in 2025 and were privately placed with institutional investors. The notes are guaranteed by subsidiaries of MAHLE in Germany, Austria, Canada, Japan, Mexico, Poland, Slovenia and the US. The net proceeds, as well as cash on balance sheet, will be used for the tender offer and for general corporate purposes.

MAHLE, based in Stuttgart, Germany, is an international development partner and supplier to the automotive industry with customers in both the passenger car and commercial vehicle sectors.

The White & Case team in Frankfurt which advised on the transaction was led by partner Rebecca Emory and included partners Gernot Wagner, Karsten Wöckener and Thilo Diehl, local partners Peter Becker and Timo Lockemann and associates Jan-Christopher Wilhelms and Hüseyin Sarigül.

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