Latham & Watkins Advises on ZF's US$800 Million Notes Offering and Tender Offers

Latham & Watkins LLP has advised the joint book-running managers on an offering of US$800 million 8.375% senior notes due 2031 by ZF North America Capital Inc., a financing subsidiary of ZF Friedrichshafen AG. The team also advised the dealer managers on the concurrent tender offers by several financing subsidiaries of ZF in respect of existing US dollar and euro notes in reliance on the SEC’s new abbreviated tender offer relief.

ZF Friedrichshafen AG 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, based in Germany. The proceeds from the offering will be used to repay outstanding indebtedness, finance the tender offers, and for general corporate purposes.

The Latham team was led by Munich Capital Markets partner Rüdiger Malaun and London/Paris Capital Markets partner Roberto Reyes Gaskin, with associate Peter Neuböck. Advice was also provided on tax matters by New York partner Bora Bozkurt and Munich partner Ulf Kieker, with Jorge Hinzpeter.*

*Admitted to practice in Chile only.