Porsche showed it has as much financial opportunism as the bankers who buy its sports cars on Wednesday when it drew down a standing €10bn ($14.7bn) credit line that was about to see time called on its highly favourable terms.

Like a sharp-eyed arbitrageur, the German sports carmaker has spotted that the huge shifts in risk appetite that have rocked the credit markets since last summer means it can earn more from low-risk investment now than it costs to borrow the money.