Schaeffler plans investment grade bonds

Global automotive and industrial supplier Schaeffler plans to issue investment grade bonds on the basis of its full year figures for 2018 and depending on market conditions. Schaeffler established a debt issuance program with a program volume of up to EUR 5 billion for the issuance of investment grade bonds on the debt capital markets.

Since last year, Schaeffler is rated investment grade by all three internationally recognized rating agencies Fitch (“BBB-“), Moody’s (“Baa3”) and Standard & Poors (“BBB-“). These ratings confirm the strong balance sheet and the capital strength of the Schaeffler Group.

The Group’s financing structure currently consists of syndicated bank loans and partly callable high yield bonds. The transformation of the financing structure and the long-term establishment as investment grade rated company create further operational and financial flexibility to support the implementation of Schaeffler’s growth strategy.

Dietmar Heinrich, Chief Financial Officer of the Schaeffler AG, said: “The Schaeffler Group has consistently further developed its financing structure in recent years. With the planned issuance of investment grade bonds, we are continuing along this path and want to establish ourselves in this market segment in the long term.”

Disclaimer
This announcement does not constitute an offer to buy, sell or otherwise dispose of any securities of Schaeffler AG or a solicitation of an offer to buy any securities of Schaeffler AG. The purchase or subscription of bonds of Schaeffler AG must only take place on the basis of an approved securities prospectus.

This announcement is not being distributed or published in the United States of America (including its territories and possessions), Canada, Australia or Japan or any other country in which such distribution may be unlawful. Recipients of this announcement should inform themselves of and take into account any such restrictions. Any failure to comply with these restrictions may constitute a violation of the capital market laws of such jurisdictions.

Forward-looking statements and projections
Certain statements in this press release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this press release. Statements contained in this press release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.