ZF places Eurobonds with a total volume of €2.7 billion - Transaction marks second step in refinancing of the planned Wabco acquisition
- Successful completion of acquisition financing
- High investor interest leads to multiple oversubscriptions
Friedrichshafen, Germany. ZF Friedrichshafen AG (ZF) has successfully placed Eurobonds with a total volume of €2.7 billion on the capital market. The bonds, which were issued in four tranches with maturities between four and ten years, were in high demand and oversubscribed in multiple instances.
“Despite the challenging market environment, the issue of Eurobonds met with great interest among investors. This underscores their confidence in our strategy and in the planned acquisition of Wabco, through which we are adding braking technology to our systems expertise in the commercial vehicle sector,” says ZF CFO Dr. Konstantin Sauer.
Following ZF’s successful bonded loan in the amount of €2.1 billion in early October, the refinancing of the planned acquisition of commercial vehicle brake manufacturer Wabco has now been completed.
The Eurobonds will be issued by ZF Europe Finance B.V., a wholly-owned subsidiary of ZF Friedrichshafen AG. The transaction involves BNP Paribas, Bank of America, Citibank, Deutsche Bank and J.P. Morgan as active bookrunners.
- Transaction marks second step in refinancing of the planned Wabco acquisition
- Successful completion of acquisition financing
- High investor interest leads to multiple oversubscriptions
Friedrichshafen, Germany. ZF Friedrichshafen AG (ZF) has successfully placed Eurobonds with a total volume of €2.7 billion on the capital market. The bonds, which were issued in four tranches with maturities between four and ten years, were in high demand and oversubscribed in multiple instances.
“Despite the challenging market environment, the issue of Eurobonds met with great interest among investors. This underscores their confidence in our strategy and in the planned acquisition of Wabco, through which we are adding braking technology to our systems expertise in the commercial vehicle sector,” says ZF CFO Dr. Konstantin Sauer.
Following ZF’s successful bonded loan in the amount of €2.1 billion in early October, the refinancing of the planned acquisition of commercial vehicle brake manufacturer Wabco has now been completed.
The Eurobonds will be issued by ZF Europe Finance B.V., a wholly-owned subsidiary of ZF Friedrichshafen AG. The transaction involves BNP Paribas, Bank of America, Citibank, Deutsche Bank and J.P. Morgan as active bookrunners.
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