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Volkswagen Secures €5B Loan

Volkswagen has secured a €5 billion multicurrency revolving credit facility.

Volkswagen has secured a €5 billion multicurrency revolving credit facility, Reuters reports. The new loan has replaced a €7.8 billion facility, due to mature in June 2012.

The financing, which includes two one-year extension options, will be used for general corporate purposes. The German automaker appointed Citi and Commerzbank as co-coordinating bookrunners on the transaction.

Click here for the story from Reuters.

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