German Fin Min: Government To Pay 1st Tranche Of Opel Loan Tuesday
02 Juni 2009 - 9:45AM
Dow Jones News
Germany will transfer the first tranche of bridge financing to
carmaker Opel GmbH Tuesday, Finance Minister Peer Steinbrueck told
radio station Deutschlandfunk, adding that Magna International Inc.
(MGA) won't be involved in bridge financing as previously
expected.
"There was a change yesterday that I'd like to make known, which
is that Magna won't be part of the bridge financing loan
short-term," Steinbrueck said, saying that instead Germany is in a
position to transfer the first tranche of state-guaranteed bridge
financing Tuesday.
With that Magna won't contribute the EUR300 million previously
planned, Steinbrueck said, adding that the new arrangement has
interest advantages for Germany. It wasn't clear from his comments
whether or not Magna would eventually contribute to a later payment
of the financing.
Company Web site: http://www.dradio.de
-By Sarah Sloat; Dow Jones Newswires; +49 69 29725521;
sarah.sloat@dowjones.com