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Porsche pushing to agree an 8.5 billion euro loan by November 10

tryme submitted on 11/10/2009 Official Bell & Ross Timestamp: 8:51:28 AM

4 user comments | Category: Misc News | Source: | SOURCE: www.4wheelsnews.com

There have been reports that Porsche Automobil Holding SE is pushing to get an 8.

5 billion euro ($12.62 billion) loan by Nov. 10. This is actually a reduction of a previous figure of 10.5 billion euros using proceeds from the planned sale of 49.9 percent of Porsche SE’s sports car making unit Porsche AG to Volkswagen AG, according to two bankers close to the deal.

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Porsche pushing to agree an 8.5 billion euro loan by November 10

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tryme

— tryme (View Profile)


User Comments

Joe_Limon

what are they planning to use that much money for? VW already bought them.

— Joe_Limon (View Profile)

Posted on 11/10/2009 10:49:12 AM | reply to this comment | Votes: 3   

1UAW

This loan or line of credit must come with a much lower rate than the one the could get through banks and in turn can save them about 2 billion dollars.

— 1UAW (View Profile)

Posted on 11/10/2009 9:35:28 PM | | Votes: 1   

XYZZ

maybe its to pay off part of the humungous loan they took out when they tried to buy VW.

is was a slick financial engineering ATTEMPT for this minnow to gobble up a whale. when it fell thru, it was the whale who ate porsche!

— XYZZ (View Profile)

Posted on 11/12/2009 2:49:54 AM | reply to this comment | Votes: 1   

XYZZ

it was...

— XYZZ (View Profile)

Posted on 11/12/2009 2:51:32 AM | | Votes: 1   

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