Porsche’s Eu2.5bn financing hopes dim

Porsche may not raise the full Eu2.5bn it was seeking to add on to its Eu10bn refinancing completed in March, even after the company was given more time to find the money. The uncertainty surrounding Porsche’s tie-up with Volkswagen has hindered the progress of the deal, and reaching the target amount may no longer be necessary, bankers close to the transaction said this week.