Daimler secures $13 billion loan facility

Credit: REUTERS/Regis Duvignau

FRANKFURT, April 2 (Reuters) - Daimler DAIGn.DE said on Thursday it has signed an agreement for a 12 billion euro ($13 billion) credit line to increase its financial flexibility in the current coronavirus crisis.

The credit line comes in addition to an 11 billion euro revolving credit with a term until 2025, including extension options.

The new loan facility can be utilized within a 12-month period with two extension options of six months, Daimler said, adding the line was agreed with BNP BNPP.PA, Banco Santander SAN.MC, Deutsche Bank DBKGn.DE and JP Morgan JPM.N on April 1. Syndication has started.

($1 = 0.9209 euros)

(Reporting by Christoph Steitz; Editing by Susan Fenton)

((christoph.steitz@thomsonreuters.com; +49 69 7565 1269; Reuters Messaging: christoph.steitz.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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