Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Xetra  >  Continental AG    CON   DE0005439004

News SummaryMost relevantAll newsSector newsTweets 

Continental AG : Continental Successfully Refinances

share with twitter share with LinkedIn share with facebook
share via e-mail
01/23/2013 | 10:28am CET


  • New agreement on €4.5 billion syndicated loan signed
  • Terms through 2016 and 2018 further improving Continental's debt maturity profile
  • Higher degree of security thanks to geographically broader consortium of banks

Hanover, January 23, 2013. The international automotive supplier Continental has signed a new syndicated loan agreement, thereby further improving its debt maturity profile. Committed to by approximately 30 domestic and international banks, the credit amount has been reduced slightly. It now totals €4.5 billion and is split up into two tranches of differing duration - a loan in the amount of €1.5 billion, with a term of three years, and a five-year revolving credit line in the amount of €3 billion. For the new syndicated loan, Continental has been able to obtain the release of the asset collateral previously put up for the financing and has also implemented further simplifications with regards to the documentation.

Here you can download the press release as a doc-file.

The new loan agreement not only improves our financing and debt maturity profile but also puts our financing on a geographically broader footing, reported Continental CFO Wolfgang Schäfer following the signing of the new agreement, adding: This will enable us to better absorb regional fluctuations in the global capital market environment in the future and generally respond more flexibly to volatile markets. The great trust that the banks have again demonstrated gives us renewed confidence that with our long-term strategy, we are pursuing the right path for Continental.

Mainly by launching five bonds and generating free cash flow (FCF), the DAX 30 company had, in the interim, been able to reduce almost €9 billion off the original €13.5 billion syndicated loan agreed in 2007. In the last three years, the company's net indebtedness has dropped by more than €2.5 billion. At the end of the 3rd quarter of 2012, it stood at €6.8 billion. The gearing ratio (net indebtedness divided by total equity) amounted to 78 percent at that point in time. Continental closed the third quarter of 2012 with unused credit line commitments in the amount of just under €2.6 billion. Up until then, the company had availed a mere €602 million of the €2.5 billion revolving credit line under the terms of the previous syndicated loan.

On March 7, 2013, Continental will present preliminary figures for fiscal year 2012 at its Annual Press Conference in Frankfurt/Main.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on CONTINENTAL AG
01/14 CONTINENTAL : teams up with Nexteer for motion control systems
01/12 CONTINENTAL : An Application for the Trademark "UNDERGROUNDMASTER" Has Been File..
01/12 CONTINENTAL : Trademark Application for "EM-MASTER" Filed
01/12 CONTINENTAL : Trademark Application for "SCOOPMASTER" Filed by Continental AG
01/11 NEXTEER AUTOMOTIVE : to form joint venture with Continental AG
01/10 SMART CITIES : Continental Invests in Urban Software Institute GmbH
01/09DJCONTINENTAL : Targets Higher Sales But Moderate Margin Growth in 2017
01/09 ANNUAL TARGETS COMFORTABLY ACHIEVED : Continental Continues Its Growth
01/09 DGAP-NEWS : Jahresziele sicher erreicht: Continental setzt Wachstumskurs fort
01/09 DGAP-NEWS : Annual Targets Comfortably Achieved: Continental Continues Its Growt..
More news
Sector news : Auto, Truck & Motorcycle Parts - NEC
12:22p Takata bidders plan court-led turnaround for Japan business
12:18p Takata bidders plan court-led turnaround for Japan business - source
01/13 Takata shares surge on news of settlement for U.S. govt air bag probe
01/12 MAGNA INTERNATIONAL : to build car paint shop in Slovenia, create 400 jobs
01/09DJDELPHI AUTOMOTIVE : Car Suppliers Vie for Major Role in Self-Driving Boom
More sector news : Auto, Truck & Motorcycle Parts - NEC
News from SeekingAlpha
2016 Mega Trends Driving Automotive OEM - Part 1
2016 GOODYEAR TIRE & RUBBER : Buyers Beware
2016 Continental AG ADR 2016 Q3 - Results - Earnings Call Slides
2016 Continental's (CTTAY) CEO Ralf Cramer on Q3 2016 Results - Earnings Call Tran..
2016 Continental reports Q3 results
Financials (€)
Sales 2016 40 493 M
EBIT 2016 4 206 M
Net income 2016 2 792 M
Debt 2016 3 445 M
Yield 2016 2,12%
P/E ratio 2016 13,54
P/E ratio 2017 11,82
EV / Sales 2016 1,02x
EV / Sales 2017 0,93x
Capitalization 37 661 M
More Financials
Duration : Period :
Continental AG Technical Analysis Chart | CON | DE0005439004 | 4-Traders
Full-screen chart
Technical analysis trends CONTINENTAL AG
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 200 €
Spread / Average Target 5,9%
Consensus details
EPS Revisions
More Estimates Revisions
Elmar Degenhart Chairman-Executive Board
Wolfgang W. Reitzle Chairman-Supervisory Board
Wolfgang Schäfer Head-Finance & Controlling
Karsten Michels Head-Systems & Technology
Michael Iglhaut Member-Supervisory Board
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
DENSO CORP-0.85%34 295
HYUNDAI MOBIS CO., LTD..--.--%23 375
More Results