Shearman & Sterling represented the initial purchasers Deutsche Bank, Barclays, Bayerische Landesbank and Citigroup on the offering by Schaeffler Finance B.V. of €300 million in high-yield bonds. The bonds are guaranteed by Schaeffler Aktiengesellschaft and certain of its subsidiaries and secured by certain assets of the Schaeffler group. The bonds were sold in a public offering in Germany and Luxembourg and in private placements in other European countries. In February of this year Shearman & Sterling also advised the initial purchasers in connection with Schaeffler’s issuance of approximately €2 billion in multi-currency high yield bonds.
Schaeffler is one of the leading global suppliers of highly-engineered and value-added components and systems for the automotive industry and industrial sectors.
The Shearman & Sterling team advising the initial purchasers included partners Marc Plepelits (Frankfurt-Capital Markets), Esther Jansen(Frankfurt-Finance), and Johannes Frey(Munich-Tax); counsel Gabrielle Wong (London-Finance); and associates Jonathan Handyside (Frankfurt-Capital Markets), Simon Weiß (Frankfurt-Capital Markets), Odilo Wallner (Frankfurt-Finance), Monsiree Jirasarunya (London-Finance) and Norbert Mueckl (Munich-Tax).
