London, June 24 2024 , (Oilandgaspress) ––In June 2024, Mercedes-Benz Group AG (ticker symbol: MBG) concluded an €11 billion renewal of its syndicated credit facility with a consortium of international banks. The syndicated credit facility with a term of five years and two extension possibilities of one year supports the company’s strong financial position until at least the year 2029. In an environment of high interest rates Mercedes-Benz could arrange favourable conditions and has actively reduced the consortium of invited banks compared to the existing credit facility for the same amount of €11 billion.
“The strong interest in this syndicated credit facility and the attractive conditions illustrate that Mercedes-Benz enjoys a high reputation, as well as trust and confidence in the execution of our strategy from the banking world.”
Steffen Hoffmann, Head of Treasury and Investor Relations of Mercedes-Benz Group AG
The broad-based consortium of 32 banks from Europe, Asia and America, coordinated by Bank of America, BNP Paribas, Deutsche Bank and MUFG, reflects the global orientation of Mercedes-Benz’s business. The syndicated credit facility serves to secure financial flexibility.
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