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Eight banks which had initially offered tranches of 2.5 billion
euros will supply 1.825 billion euros each, while five banks
which offered 1.5 billion euros each will provide loans worth
1.08 billion euros, the people said.
Citi, Unicredit, Barclays, Bank of Tokyo-Mitsubishi, BNP
Paribas, HSBC, Mizuho, Societe Generale have granted the larger
tickets, with Goldman Sachs, Bank of America, Santander, BBVA,
Credit Agricole supplying the rest, they added.
VW and the banks declined to comment, except for HSBC, BBVA,
Bank of Tokyo-Mitsubishi and Mizuho, which were not immediately
available for comment.
Volkswagen, Europe's largest automaker, is under pressure to
strengthen its finances, with analysts expecting it will have to
pay out tens of billions of euros to cover fines, lawsuits and
vehicle refits after it admitted to cheating U.S. diesel
emissions tests and falsifying carbon dioxide emissions.
The biggest corporate scandal in the German company's 78-year
history has forced out its long-time CEO, wiped billions of
euros off its stock market value and hammered its bonds - making
it much more expensive for the company to borrow through its
traditionally preferred route of the debt market.
Sources had told Reuters on Wednesday that Volkswagen had agreed
the terms of the bridge loan.
($1 = 0.9474 euros)
(Additional reporting by Jan Schwartz; Editing by Maria Sheahan)
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