Continental May Revive 1.5 Billion Euro Bond Sale Plans
Continental AG has reportedly revived plans to sell bonds to help it repay large debts. Citing “two people familiar with the matter,” Business Week reported that the planned sale of about 1.5 billion euros ($2 billion) in notes may take place as early as May.
According to the report, the potential bond sale would give Continental “greater financial flexibility” in its efforts to reduce 7.8 billion euros of net debt. Business Week quoted Continental spokeswoman Antje Lewe as saying a bond sale in the first half of 2010 is possible “if market conditions allow.”