Institutional loans upsized to approximately #8364;1.4 billion
One Euro and one USD tranche
Second milestone of the refinancing concept successfully implemented

Schaeffler AG successfully placed approximately #8364;1.4 billion of loans with institutional investors today. This transaction represents the second key element of the comprehensive refinancing agreement that Schaeffler AG had entered into with its banks on January 27, 2012. The first part was the successful #8364;2.0 billion bond issuance at the beginning of February, marking the company’s debut on the capital markets.

Given the strong demand, the originally envisaged issuance of #8364;1.0 billion was increased to #8364;1.4 billion. The issue consists of one Euro and one U.S. dollar tranche. Both tranches have maturities of five years with variable interest rates. The Euro tranche has a total volume of #8364;450 million and an interest rate of 5.0 percent over Euribor. The dollar tranche totals approximately $1.3 billion and comes with an interest rate of 4.75 percent over Libor.

Klaus Rosenfeld, CFO of Schaeffler AG, said: "With the placement of the institutional loan tranches we have successfully executed the second milestone of our new refinancing concept. This not only opens a new capital market segment for us, but also further improves our financing conditions."

The company mandated BNP Paribas, Deutsche Bank, HSBC and JP Morgan with the placement of the institutional loans. The net proceeds will be used to repay existing bank loans.

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