Germany's ZF eyes two bond issues in H1 2015- Boersen-Zeitung

FRANKFURT, Oct 24 (Reuters) - German car parts maker ZF Friedrichshafen plans to issue two bonds in the first half of 2015 to refinance loans it took on for its $13.5 billion takeover of U.S.-based TRW Automotive Holdings, its finance chief told a newspaper.

ZF agreed to buy TRW in an all-cash deal last month, creating a major global supplier with combined annual sales of more than $40 billion. At the time, it received a bridge loan from Citigroup and Deutsche Bank to pay for the deal.

"We want to issue a euro bond, probably in the first quarter of 2015. The volume should be between 2 billion and 3 billion euros ($2.5-3.8 billion)," Konstantin Sauer was quoted as saying in an interview published in German daily Boersen-Zeitung on Friday.

In the second quarter, ZF will then issue a U.S.-dollar denominated bond, he said. It will determine its volume based on the market environment early next year.

The bonds are to have maturities between three and seven years, Sauer said. He said he expected to be able to obtain an investment grade credit rating, a precondition for the bond issues, relatively quickly.

($1 = 0.7902 euro) (Reporting by Maria Sheahan. Editing by Jane Merriman)