Daimler AG is increasing its financial flexibility with a further loan facility agreement in the amount of €12 billion. This is in addition to the existing €11 billion revolving credit facility with a term until 2025 including extension options. The additional loan facility can be utilized within a 12-month period with two extension options of six months.
The loan facility was agreed with the four lenders BNP, Banco Santander, Deutsche Bank and JPMorgan on April 1, 2020. Syndication has started. The further credit line creates an additional liquidity buffer in addition to Daimler’s already strong liquidity and financial flexibility. At the end of 2019, Daimler had gross liquidity of approximately €24 billion in its industrial business.
Daimler also demonstrated its access to the eurobond market earlier this week with the successful issue of a €1.5 billion five-year benchmark bond.
Source: Daimler AG