AUTOMOTIVE: Robert Bosch (RBOSGR NR/A/A): Financing
Mar-21 15:45By: Donal Golden
RBOSGR+ 1
We can expect refinancing issuance down the line.
- Bosch has upsized its RCF and taken a €4bn bridge loan. It has the $8bn HVAC transaction with Johnson Controls to fund.
- Previously management were vague on issuance, citing funding from “own resources”. It does have ample resources on the balance sheet; cash and equivalents €7.4bn, €3.3bn term deposits and €14.3bn in securities at FY23.
