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VW Said to Sign 20 Billion-Euro Bridge Financing Deal on Friday

2015-12-02 16:30:40| Automakers - Topix.net

Volkswagen AG plans to sign a 20 billion-euro bridge financing deal with about 13 banks on Friday to demonstrate that the German automaker has adequate liquidity to weather the emissions cheating scandal, according to people familiar with the matter. The banks, led by Citigroup Inc. and UniCredit SpA, will each provide financing of either 1.5 billion euros or 2.5 billion euros, said the people, who asked not to be identified because the negotiations are confidential.

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