Daily News: November 29, 2016

Citigroup, UniCredit Extend VW $21B Bridge Loan

Bloomberg reported that Volkswagen plans to extend the maturity of a €20 billion ($21 billion) credit facility as talks proceed with U.S. authorities over fines following a diesel-emissions scandal.

According to Bloomberg, VW signed the bridge-loan facility with 13 banks, coordinated by Citigroup and UniCredit in December 2015, three months after the scandal erupted.