Schaeffler AG to sell bonds for very first time


FRANKFURT, Jan 27 (Reuters) - German ball bearing maker Schaeffler AG will sell 2 billion euros in bonds in the short to medium term, its first corporate debt issue ever, as part of an overall deal to replace an existing credit line and significantly improve its maturity profile. Some 7.7 billion euros ($10.11 billion) of a current facility in place until June 2014 will be replaced with a completely new 8 billion euro agreement with eight banks mainly consisting of term loans with staggered ...

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