UPDATE 2-Schaeffler seeks flexibility with jumbo PIK toggle


* Schaeffler preps EUR1.5bn-equivalent five-year PIK toggle * Deal will be biggest PIK toggle in either euros or dollars * Bond to give flexibility ahead of larger reorganisation (Adds quotes, more detail) By Robert Smith LONDON, July 17 (IFR) - German car parts supplier Schaeffler is aiming to issue the largest payment-in-kind toggle on record that will give it greater financial flexibility as it eyes a wider reorganisation. ...


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