BERLIN (Reuters) -German car parts supplier Bosch plans to place a bond worth several billion euros to raise capital for investments, innovation and future acquisitions, the company said on Tuesday.
Bosch to Issue Multibillion-Euro Bond for Investments and Acquisitions
BERLIN (Reuters) -German car parts supplier Bosch plans to place a bond worth several billion euros to raise capital for investments, innovation and future acquisitions, the company said on Tuesday.
Business daily Handelsblatt, which first reported the news, said the bond would be placed in the next few days, citing financial sources.
The company has approached potential investors for the new bond, Handelsblatt said, adding the size had not been finalised but was expected to be close to the company's largest ever issue, which was in 2023 and totalled 4.5 billion euros.
A spokesperson for Bosch confirmed that the company aimed to close the transaction in May, declining to provide further details on an ongoing process.
The company intends to use part of the raised capital to finance its planned acquisition of parts of the heating, cooling and ventilation business of Johnson Controls/Hitachi, the spokesperson added, its largest takeover to date.
(Reporting by Ilona Wissenbach. Writing by Madeline Chambers and Victoria Waldersee. Editing by Matthias Williams and Mark Potter)
