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

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.
Read Article

Joe_Limon - 11/10/2009 10:49:12 AM

+3 Boost

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

XYZZ - 11/12/2009 2:49:54 AM

+1 Boost

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 - 11/12/2009 2:51:32 AM

+1 Boost

it was...