Schaeffler’s proposed changes to terms governing $7.9 billion of high-yield bonds, including a new €1.8 billion ($2.3 billion) loan, are being opposed by Schroders Plc., which manages some of the supplier’s debt.
Investors must decide by Thursday whether to increase the company’s debt-to-earnings ratio and approve the new €1.8 billion ($2.3 billion) loan, according to documents seen by Bloomberg News.
By Maki Shiraki
Japan’s Toyota Motor Corp said on Wednesday it would recall a total 1.67 million vehicles globally in a voluntary move to address three separate defects including a faulty brake master cylinder that could hinder the brake’s performance.
Honda said it remains committed to hybrids in Europe and will import a petrol-electric hybrid version of its next Jazz subcompact in 2016, a year after the conventionally-powered new Jazz goes on sale.
In 1984, Peugeot introduced its 205 GTi with a wild, James Bond-esque commercial in which the car was seen being chased across a snowy expanse by a plane dropping explosives.
by Ben Klayman
Chrysler Group is recalling an estimated 184,215 sport utility vehicles globally because a possible short circuit in a part could disable air bags and seat-belt pretensioners, the automaker said on Tuesday.
