Continental refinancing done by Christmas - sources

Newswire

FRANKFURT, Nov 27 (Reuters) - Indebted German automotive supplier Continental AG aims to conclude negotiations over a refinancing of its syndicated loan with creditors before Christmas, several sources familiar with the matter said. Continental is set to pay a higher interest rate in exchange for postponing a 3.5 billion euro ($5.2 billion) tranche payment due in August next year. The supplier will refinance via a 1 billion euro capital increase and extend the remaining 2.5 billion in ...

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