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Sweden Guarantees €400M Saab Funding
Dutch car maker, Spyker Cars, has secured approval from the Swedish government to take fresh funding for its Saab Automobile unit.
Dutch car maker,Spyker Cars, has secured approval from the Swedish government to take fresh funding for itsSaab Automobileunit,The Wall Street Journalreports. Sweden’sNational Debt Officeagreed to guarantee the new funding for Saab from its €400 millionEuropean Investment Bank(EIB) loan facility.
The debt office had previously provided guarantees for €217 million of EIB loans to Trollhattan-based Saab. According to the new loan agreement, funding is decided only on a project basis, and Spyker must commit an equal amount of money.
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