(News Bulletin 247) – BMW Group has signed an €8.0 billion syndicated revolving credit facility (RCF) with a five-year term and two one-year extension options.
A total of 43 international and regional banks from Europe, America and Asia participated in the transaction. With BNP Paribas, Citi and Deutsche Bank as coordinating bookrunners, BMW Group replaced the existing €8.0 billion RCF signed in 2017.
‘Sustainability is at the heart of our long-term strategy. For the first time, we have disclosed all of our corresponding activities in a global financing process,” BMW AG Chief Financial Officer Walter Mertl said in Munich on Wednesday.
The syndication process ended with an exchange between the participating banks and the company’s sustainability experts, who explained and made more transparent the strategic direction and sustainable transformation of the BMW Group.
The syndicated revolving credit line is one of the standard financing instruments of BMW Group Corporate Finance and serves to guarantee short-term access to liquidity. In the company’s history, the syndicated revolving line of credit has never been used.
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