Volkswagen has launched a €5 billion loan refinancing, Reuters reports. The new revolving credit facility will refinance an existing €7.8 billion credit line that is scheduled to mature in June 2012.
The new loan carries a five-year maturity with two one-year extension options. The financing is being coordinated by Citi and Commerzbank,while relationship banks have been invited to join the financing.
Click here for the story from Reuters.