Germany’s Mahle kicks off €400 million offering of seven-year notes

By Paul A. Harris

Portland, Ore., April 22 – Mahle GmbH began marketing a €400 million offering of seven-year senior notes (Ba2/BB) on Monday, according to market sources.

The deal was set to kick off on an investor call during the London morning.

The roadshow is scheduled wrap up on Wednesday.

The Rule 144A and Regulation S for life notes come with three years of call protection.

Physical bookrunner Deutsche Bank will bill and deliver. BNP Paribas, Citigroup and JPMorgan are also physical bookrunners.

Commerzbank, HSBC, LBBW and UniCredit are passive bookrunners.

The Stuttgart, Germany-based automotive parts manufacturer plans to use the proceeds to repay promissory notes and private placement corporate bonds, and for general corporate purposes.

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