Schaeffler establishes bond program

10 Oct,2018

The global automotive and industrial supplier Schaeffler has today established a EUR 5.0 billion bond issuance program. The relevant base prospectus was previously approved by the Luxembourg supervisory authority Commission de Surveillance du Secteur Financier (CSSF). The bond program creates a flexible framework for future financing via the debt capital market.

The bond program will be launched shortly after the rating has been upgraded to BBB- by S & P, making Schaeffler an investment grade company by all three internationally recognized rating agencies. As a result of the upgrade, Schaeffler was able to release the remaining collateral security under both the Group loan agreement and the outstanding bonds.

The establishment of the bond program in connection with the release of collateral security enables Schaeffler to further develop the financing structure towards an unsecured investment grade structure and underscores Schaeffler's endeavors to maintain the investment grade rating in the long term.

Forward-Looking Statements and Statements
Certain statements in this press release are forward-looking statements. By their very nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or developments to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions may adversely affect the outcome and financial consequences of the operations and developments described in this document. There is no obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, through public announcement. The recipients of this news release should not disproportionately trust any forward-looking statements that reflect the status as of the date of this press release. Statements made in this news release about trends or past developments should not be taken as statements that these trends and developments will continue in the future. The above warnings are to be read in conjunction with subsequent oral or written forward-looking statements of Schaeffler or persons acting on its behalf.