on ZF North America Capital Inc. (ETR:DE000A14)
ZF North America Capital Announces Tender Offer for Bond Holders
On October 26, 2026, ZF North America Capital, Inc., along with ZF Europe Finance B.V. and ZF Finance GmbH, revealed a tender offer for various notes, aimed at optimizing debt maturity profiles. The offer primarily targets USD 600 million notes at 6.875% due in 2028, capped at USD 200 million for acceptance. Parallel offers include EUR-denominated notes from ZF Europe Finance and ZF Finance.
The purpose is to manage approaching debt maturities and extend them, coinciding with issuing new notes. All offers are subject to a maximum acceptance amount, directly relating to the principal of new notes issued. Accepted notes are intended for cancellation and not resale.
Participation in the offer requires valid tendering before the deadline. The results and acceptance of this offer are conditional upon a new financing condition, which involves successful issuance of new USD-denominated senior notes.
R. H.
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