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12/4, 11:31 AM (Source: TeleTrader)
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Continental agrees on 5-year €4B credit line

Continental AG made a deal with its consortium banks on a new credit line worth €4 billion, the company announced on Wednesday. The credit with a term of five years will enable refinancing its current credit line of €3 billion ahead of the original schedule, adding to the German automotive giant's aspirations to lean on financial sustainability.

The group that provided the credit to the Continental consists of 27 international banks led by BNP Paribas and Deutsche Bank.

"By combining sustainability improvements with our new credit line, we have found an innovative way in corporate finance to further advance Continental's sustainability strategy," the company's head of Finance & Treasury Stefan Scholz said in a statement.

Breaking the News / GA