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Article: United States: Schaeffler launches jumbo loan for Continental buy.
- Article from:
- TendersInfo
- Article date:
- August 1, 2008
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Byline: manish03
German ball bearing maker Schaeffler has launched the multibillion syndicated loan backing its hostile bid for Continental AG (CONG.DE: Quote, Profile, Research, Stock Buzz) to a wider syndication, its lead banks said on Thursday.
The size of the loan has not been disclosed, but the facility has been launched to Schaefflers key relationship banks and a group of international banks. A bank meeting will be held next week.
Schaefflers fully underwritten loan joins a crowded loan market that was already facing serious questions about market capacity with InBevs (INTB.BR: Quote, Profile, Research, Stock Buzz) $45 billion loan ...