Daimler in talks for 10 billion euro credit line: Bloomberg

Daimler in talks for 10 billion euro credit line: Bloomberg

Daimler is in talks with lenders for a credit facility of at least 10 billion euros (US$11.03 billion) to help the car company cope with the coronavirus outbreak, Bloomberg reported on Thursday.

Ola Kaellenius, CEO of German luxury car manufacturer Daimler AG, speaks at the annual results news
Mercedes logo is seen as Ola Kaellenius, CEO of German luxury car manufacturer Daimler AG, speaks at the annual results news conference in Stuttgart, Germany, February 11, 2020. REUTERS/Andreas Gebert

FRANKFURT: Daimler is in talks with lenders for a credit facility of at least 10 billion euros (US$11.03 billion) to help the car company cope with the coronavirus outbreak, Bloomberg reported on Thursday.

Bloomberg, citing unnamed people familiar with the matter, reported that an announcement on the final amount could come as early as next week.

Daimler, which like other carmakers has suspended swathes of production to prevent the virus' spread, declined to comment.

(Reporting by Edward Taylor. Writing by Tom Sims. Editing by Jane Merriman)

Source: Reuters

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