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Local law firm Salans Bucharest advised German tires producer Continental on the Romanian aspects of a euro-denominated EUR 750 million bond issue. According to Salans officials, the notes have a term of 5 years at a coupon interest rate of 8.5 percent.
The net proceeds will be used to repay a portion of Continental’s syndicated bank facility and improve its debt maturity profile.
Salans Bucharest, with a team of 32 lawyers, also acted for Continental AG in amendments to the company’s syndicated bank facilities announced at the end of last year.
Dana Ciuraru