Global law firm Freshfields has advised ZF Friedrichshafen and ZF North America Capital Inc. on the issuance of 7.500% senior notes due 2031 with a total volume of $1.5bn. In connection with the bond issuance, Freshfields also advised ZF Friedrichshafen on concurrent tender offers for its outstanding €900m aggregate principal amount of 2.000% fixed rate notes due 2026 issued by ZF Europe Finance B.V. and €650m aggregate principal amount of 5.750% fixed rate notes due 2026 issued by ZF Finance GmbH.

ZF Friedrichshafen AG, headquartered in Germany, is a global leader in the design, manufacturing, and sale of driveline and chassis technology, as well as active and passive safety technology for the automotive industry and certain industrial sectors. The proceeds from the offering will be used to repay outstanding indebtedness and for general corporate purposes.

The Freshfields team for the Notes offering was led by Partner Simone Bono with support from Associates Ahmed Yacout Saleh, Enzo Paganetti, and Chen Yan (all London). German law advice was provided by Partner Christoph Gleske and Principal Associate Birgit Schulz (both Frankfurt). Tax advice was provided by Partner Claude Stansbury (Washington) and Associate Dominik Luczak (New York).

The Freshfields team for the tender offers was led by Partner Christoph Gleske with Counsel Nikolaus Bunting and Principal Associate Birgit Schulz (all Frankfurt).