Volvo Car gets state backing in loan market
Sweden’s Volvo Car, a car maker, has become the latest company under pressure from the coronavirus pandemic to sign a state-guaranteed loan, as bankers say that state support is essential to secure commercial bank loans for the worst affected sectors.
Volvo Car has signed a Skr10.666bn (€1bn) two year revolving credit facility. The revolver comes with a one year extension option.
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