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Schaeffler to redeem €800 million, $600 million 7¾% notes due 2017
New York, March 26 – Schaeffler Finance BV has called for redemption its €800 million 7¾% senior secured notes due 2017 and $600 million 7¾% senior secured notes due 2017, according to a notice.
The bonds will be redeemed on April 27 at par plus the applicable premium, which will be calculated according to the terms of the notes.
Schaeffler will also pay accrued interest up but excluding the redemption date.
The redemption is subject to the issue of new notes.
Schaeffler finance is a subsidiary of Schaeffler Verwaltung Zwei GmbH, formerly known as Schaeffler AG, a Herzogenaurach, Germany-based manufacturer of bearings for autos and industrial OEMs.
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