Schaeffler has expanded its consortium of eight banks for the EUR8bn (US$10.1bn) refinancing package agreed in January, 2012, to eleven banks.
Barclays, Bayerische Landesbank, and Citibank have joined the banking group consisting of BNP Paribas, Commerzbank, Deutsche Bank, HSBC, JP Morgan, LBBW, Royal Bank of Scotland and UniCredit.
Following the placement of EUR2bn in bonds and around EUR1.4bn in loans with institutional investors in February 2012, the addition of the new financial institutions marks the completion of the EUR8bn refinancing arrangement.
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