Daily News: February 27, 2014

Bloomberg: Peugeot to Start Syndicating 2.7B Euro Credit Line

Bloomberg reported PSA Peugeot Citroen (UG) is marketing a €2.7 billion ($3.7 billion) credit line that will replace an existing loan, according to three people with knowledge of the deal.

Incoming CEO Carlos Tavares said the new capital will be used to increase R&D and focus on the most profitable vehicles, after the manufacturer fell behind competitors, Bloomberg said further.

To read the entire Bloomberg article, click here.