HANOVER, Germany (July 12, 2010)—Continental A.G. successfully has placed a Eurobond issue worth $925 million. Last week the company said it expected to place the issue to a value of at least euro $625 million.
The company said the action has completed a further step in improving its debt maturity profile. The notes have a term of five years, be issued by Conti-Gummi Finance B.V. and guaranteed by Continental A.G. and some subsidiaries. The coupon will be 8.5 percent, with interest payable semiannually.