Daimler secures $13 billion loan facility

FRANKFURT (Reuters) – Daimler said on Thursday it has signed an agreement for a 12 billion euro ($13 billion) credit line to increase its financial flexibility in the current coronavirus crisis.

The credit line comes in addition to an 11 billion euro revolving credit with a term until 2025, including extension options.

The new loan facility can be utilized within a 12-month period with two extension options of six months, Daimler said, adding the line was agreed with BNP , Banco Santander , Deutsche Bank and JP Morgan on April 1. Syndication has started.

(Reporting by Christoph Steitz; Editing by Susan Fenton)