Continental, Europe’s second biggest car-parts maker, has secured €6 billion of loans, Bloomberg reports. The facility, arranged with over 35 banks, comprises term loans scheduled in 2012 and 2014 and a three-year revolving credit facility.
The company intends to use the proceeds to refinance credit lines coming due in 2012. Continental has a €2.88 billion-euro three-year term loan and €2.5 billion-euro three-year revolving credit facility, which is due to mature in 2012.
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