Continental is planning to refinance a total of about €5.3 billion in credit facilities, Bloomberg reports. The German tires and brakes manufacturer is in discussions with lenders for the same.
The credit facilities stem from the 2007 acquisition of Siemens’s VDO unit for €11.4 billion. The lead arrangers of Continental’s loans are Citigroup, Goldman Sachs, Barclays Capital, BNP Paribas, Credit Agricole, Commerzbank and Deutsche Bank. The terms of refinancing have not been decided by the company yet.
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