Volkswagen closed a €10 billion ($11 billion) five-year revolving credit facility with Citigroup, Credit Agricole and UniCredit as arrangers and coordinators.

The credit facility offers two one-year extension options. The proceeds from will be used for general corporate purposes.

Banco Santander, Bank of America Merrill Lynch, Bank of China, Barclays, Banco Bilbao Vizcaya Argentaria, BNP Paribas, China Construction Bank, Citi, Commerzbank, CA CIB, Deutsche Bank, Goldman Sachs, HSBC Trinkaus & Burkhardt, Industrial and Commercial Bank of China, ING, Intesa Sanpaolo, JPMorgan, Mizuho, Morgan Stanley, MUFG, Natwest Markets, Royal Bank of Canada, Sumitomo Mitsui Banking Corporation, Société Générale, UniCredit and Wells Fargo acted as bookrunners and mandated lead arrangers for the facility.

A further six banks acted as mandated lead arrangers and another eight banks acted as lead arrangers.

Clifford Chance served as legal advisor to Volkswagen.