Porsche speeds to close of Eu8.5bn amendment

Porsche completed an Eu8.5bn refinancing on Wednesday morning with all its existing banks committing despite getting only 10 days to do so. The new facility, part of the debt restructuring needed for Porsche’s integration into the Volkswagen group, will lead to lenders on the car maker’s Eu10.75bn deal each reducing their exposure by about 20%.