CMS advises consortium led by Commerzbank AG on successful renewal and increase of Continental AG’s commercial paper programme

Frankfurt/Main – Hanover-based Continental AG has renewed and expanded its issuance platform for short-term bonds. Continental AG’s commercial paper programme now has a maximum value of EUR 1.5 billion. Commerzbank AG is acting as arranger and dealer. The dealer consortium also includes Bank of America, Merrill Lynch International Limited, Bayerische Landesbank, BNP Paribas, DZ BANK AG, ING Bank N.V., Landesbank Baden-Württemberg and The Royal Bank of Scotland plc (trading as NatWest Markets).

A CMS team headed by lead partner Oliver Dreher advised Commerzbank AG and the other consortium members on the transaction. As the only external law firm involved, CMS acted as transaction counsel.

The team led by Oliver Dreher has often acted in a similar capacity for Commerzbank. It regularly advises leading placement banks and companies on corporate bonds, both in stand-alone transactions and with regard to setting up and using issuance programmes.

Commerzbank AG is a leading international commercial bank with offices in almost 50 countries. It handles around 30 per cent of German foreign trade and is regarded as the market leader in the German corporate client sector.

Continental AG is one of the world’s leading automotive suppliers and mobility solution providers. The company employs more than 238,000 people across 61 countries worldwide.

CMS Germany

Oliver Dreher, Lead Partner
Dr Orna Freifrau von Fürstenberg, Senior Associate, both Banking & Finance

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