Daimler said it was increasing its financial flexibility with a further loan facility agreement for EUR12bn.
This is in addition to the existing EUR11bn revolving credit facility with a term until 2025 including extension options. The additional loan facility can be used within a 12-month period with two extension options of six months.
Go deeper with GlobalData
The loan facility was agreed with BNP, Banco Santander, Deutsche Bank and JPMorgan on 1 April, 2020 and syndication has started.
"The further credit line creates an additional liquidity buffer in addition to [our] already strong liquidity and financial flexibility," the automaker said in a statement.
"At the end of 2019, Daimler had gross liquidity of approximately EUR24bn in its industrial business."
Daimler also issued a EUR1.5bn five year benchmark bond this week.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
