Porsche makes room to manoeuvre after signing revolver
Porsche’s operating subsidiary has signed a Eu2.5bn revolver, refinancing a loan arranged late last year as the existing lending banks reduce their exposure. The two year plus one year revolver, which pays an initial margin of 250bp, has been well received by banks, who were not dissuaded from participating following Porsche’s holding company’s speedy execution of its Eu8.5bn loan last year after the failed takeover attempt of Volkswagen. To find out more about this deal and what else is on in the market this week, read EuroWeek this Friday.
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