Porsche SE says it has secured a 10 billion euro loan from several banks to help it pay for the shares of Volkswagen AG, to solidify its majority stake in Europe's biggest automaker by sales. Stuttgart-based Porsche Automobil Holding SE says under the agreement, it can extend the volume of the amount to 12.5 billion euros ($16.8 billion).
The credit line is being guaranteed by a consortium of 15 banks including Barclays Capital, Deutsche Bank AG, BNP Paribas, Santander, UBS and Credit Suisse Group.
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