Lufthansa takes out loan facility of $2.17b

Lufthansa said Friday it had signed a revolving credit facility of E2.0b with a syndicate of international relationship banks to boost its liquidity. The unsecured loan facility replaces Lufthansa's existing undrawn credit lines of around 0.7b euros and will be available for three years with two one-year extension options, the airline said. "The signing of our first syndicated revolving credit facility strengthens our liquidity reserve and increases the efficiency of our balance sheet in securing our liquidity target of E6-8b," Finance Chief Remco Steenbergen said. HSBC Continental Europe, Landesbank Baden-Württemberg and UniCredit Bank acted as coordinating bookrunners and mandated lead arrangers, Lufthansa said.<br/>