OREANDA-NEWS. Daimler AG (ticker symbol DAI) reached an agreement on September 26, 2013 with a consortium of international banks on a 9 billion euro syndicated credit facility running for a period of five years and with two extension options. It thus provides the company with financial flexibility until the year 2020. The credit line was substantially oversubscribed and has significantly improved conditions.

"We are delighted with the great interest in this credit line, which has now been confirmed by the significantly higher number of banks involved. It demonstrates the trust that the banks place in Daimler's sustainably positive development," stated Bodo Uebber, Member of the Board of Management of Daimler AG for Finance & Controlling. "We decided to renew the existing credit line at this early stage primarily due to the favorable market conditions, and have thus gained a sound liquidity cushion for the longer term," continued Uebber.

Against a backdrop of global growth, Daimler chose to make the new syndicate more international. More than 40 European, American and Asian banks are member of the consortium.

Daimler does not plan to utilize the credit line; it is primarily intended to secure sufficient financial flexibility. Upon signing the credit line, Daimler will prematurely terminate its existing syndicated credit line with an amount of 7 billion euro.