Beleaguered Schaeffler gets new Eu1bn loan
Schaeffler, the bearings group, has secured a new Eu1bn loan in an attempt to gain more time to present a restructuring proposal to the German government and secure state aid. The loan, which Schaeffler said would give it the flexibility it needs, was provided by Commerzbank, Dresdner Kleinwort, HVB, LBBW, Royal Bank of Scotland and UBS.
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