Daimler: signs 11-billion-euro credit line
(CercleFinance.com) - German auto giant Daimler said on Tuesday that it had lined up a five-year, 11-billion-euro syndicated credit line, replacing an existing credit line.
The credit facility entered into with a consortium of more than 40 international banks has two extension options, meaning that the company will have enough financial flexibility until 2025.
As a result of the favourable credit environment and Daimler's good credit rating, the transaction was entered into on improved terms and was significantly oversubscribed, the Group said.
Due to the favourable market environment, Daimler has terminated the existing 9-billion-euro syndicated credit line ahead of schedule.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The credit facility entered into with a consortium of more than 40 international banks has two extension options, meaning that the company will have enough financial flexibility until 2025.
As a result of the favourable credit environment and Daimler's good credit rating, the transaction was entered into on improved terms and was significantly oversubscribed, the Group said.
Due to the favourable market environment, Daimler has terminated the existing 9-billion-euro syndicated credit line ahead of schedule.
Copyright (c) 2018 CercleFinance.com. All rights reserved.