Porsche yesterday said it would ask for a €1.75bn ($2.48bn) loan from the German government's economic stimulus programme to secure the final amount of refinancing it needs.
The application to KfW, the German state-owned development bank, is the second to be made by Porsche as the sports car maker seeks to secure €12.5bn of credit lines after its expensive attempt to take over Volkswagen. Porsche abandoned the VW takeover attempt, agreeing instead to explore options to merge or integrate the two companies.
