Tyremaker Continental AG may issue fresh bonds - CFO in paper
FRANKFURT, March 6
FRANKFURT, March 6 (Reuters) - German tyremaker and car parts group Continental AG may tap bond markets to take advantage of currently low interest rates, its finance chief told a German newspaper.
"Considering the more favourable interest rate level we are examining whether it would be worth replacing existing bonds with new ones," German daily Handelsblatt quoted Wolfgang Schaefer as saying in an excerpt of an article to be published on Thursday.
Continental has outstanding bonds totalling almost 4 billion euros ($5.2 billion) carrying coupons of as much as 8.5 percent, according to its website.
The company is due to publish fourth-quarter results on Thursday and is expected by analysts to report adjusted earnings before interest and tax in the final three months of last year rose 8.2 percent to 883 million euros. ($1=0.7677 euros) (Reporting by Maria Sheahan; Editing by Greg Mahlich)