Continental sets spread for bond buy back

Newswire

LONDON, Nov 24 (Reuters) - German tyremaker and auto parts group Continental AG will buy back a 500 million euro ($652 million) bond due 2006 at a spread of three basis points over mid-swaps, said banks managing the deal on Wednesday. The purchase price for the 5.25 percent bond , issued in 1999 by the company's Continental Rubber of America Corp unit, will be set on December 2 2004. Investors can accept the offer up 5 pm Frankfurt time on December 1. The buy back is designed to lower ...

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