Continental refinances last of VDO loan
Tyre maker Continental has signed new credit facilities totalling Eu6bn, after attracting commitments of over Eu8.5bn during syndication. The new deal, which refinances Eu6.5bn of loans taken out in 2005 to back the acquisition of Siemens’ automotive division VDO, was agreed with more than 35 banks, including new lenders.
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