Porsche Holdings will start a E220 million conduit financing program next year through ABN AMRO, says Jochen Stich, group treasurer. Stich says Porsche is opting for the asset-backed commercial paper route because it has a need for continuous financing. ABN was tapped for the deal because the firm brought Porsche's first term deal to market in 2001. Ultimately, Porsche will go for a term deal, says Stich, but that will not happen until 2004.
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