HANOVER, Germany (Sept. 8, 2010)—Continental A.G. is planning to issue a further benchmark bond as part of its refinancing strategy.
The issue is expected to be worth $961 million, and will have a maturity of seven years. A final decision as to the issue volume and the conditions will be made within the next few days, the company said.
The bond's structure will be substantially the same as that of the $961 million secured bond issued in July. The notes available under the announced issue will be transferable in minimum denomination of $64,750, and be issued by Conti-Gummi Finance B.V., Netherlands, and guaranteed by Continental and selected subsidiaries.