Daimler Truck secures tailor-made credit line

New revolving credit line of €5 billion signed

Leinfelden-Echterdingen- Daimler Truck AG., has signed a new revolving credit line worth €5 billion. By replenishing the syndicated credit line that has been in place since the spin-off in the same amount before it matures, the company is taking advantage of the favorable conditions that are currently present in the credit market. The new syndicated credit line aims to hedge the first-class credit rating, secure long-term liquidity, and improve financial flexibility. Following the spin-off, Daimler Truck was rated with investment grade status by S&P Global Ratings (BBB+, outlook positive) and Moody's (A3, outlook stable).

A total of 26 national and foreign banks are involved in the negotiations, in addition to BNP Paribas, Deutsche Bank, and LBBW, which coordinated the discussions. The new credit line is available for a five-year term, with two one-year extensions possible. During the term of the credit line, the lending banks may choose to add an additional €1.5 billion to the loan volume at their discretion.

Mr. Claus Bässler, Head of Treasury and Tax at Daimler Truck, said that, About two years following the spin-off from the previous Daimler AG, Daimler Truck seized the chance to restructure its strategic banking ties in addition to taking advantage of more favorable terms. With each participating bank, we intend to establish a partnership-based business relationship on an equal basis. We are happy that these banks will assist Daimler Truck's growth in the upcoming years provided the syndicated credit line is successfully completed. There are no plans for a drawdown under the credit facility.