Unpopular Porsche says thanks for the Eu10bn, now wants even more

Porsche is to put its relationship pull to the test as it heads into the second round of a loan syndication to raise Eu2.5bn of new money, after leaving many of its banks irate this week when it refinanced a Eu10bn facility only hours before it matured on Tuesday night. Porsche could also face another test in the bond market shortly, which it will tap to take out parts of its newly acquired, but expensive, facility.