Daimler Reaches Deal on $12 Billion Credit Line With Banks
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Daimler AG reached an agreement with a consortium of banks for a 9 billion-euro ($12 billion) credit line for the next five years to provide the world’s third-largest maker of luxury cars with financial flexibility.
The facility will replace an existing line worth 7 billion euros that would have expired in 2015, the Stuttgart, Germany-based manufacturer said in a statement today. Daimler has options to extend the length of the new credit to 2020.