Registration: Reg S Only; Comments: 11/18/2020 ZF Finance GmbH (ZFFNGR) EUR500m (WNG) Reg S sr unsec notes due 05/25/27 (6.5y). NCL (MWC B+50bp, 3mo par call, clean-up call 80%). Expect Ba1/BB+ (negative/negative). Via BofA/Commerz (B&D)/DB/Santander joint books. EMTN. List Lux. German law. Pays annual, Act/Act. 100k+100K. Settles 11/25 (T+5). ISIN: XS226961076. IPT: 3.625% area (approx ms+402 area). Guidance: 3.125% area yield. Launched: EUR500m at 2.875% yield. Priced: 2.75% at 99.278, yield 2.875%. +359.7bp vs DBR 0.25% 02/15/27, ms+326.4bp. Books went subject at 12:55pm UKT 11/18. Orderbooks over EUR4.5bn (pre-rec). UOP: GCP, including repayment of bank loans. Biz: global manufacturer of auto-parts and components. HQ: Friedrichshafen, Germany.;