Ireland defeated Netherlands to top group stage and earn a slot against Scotland
sports10 hours ago
A number of German companies have taken out state-backed loans as part of the federal government's aid package to deal with the coronavirus crisis.
Here is a list of companies that have applied for the package or plan to do so:
LUFTHANSA: The German government and the management of flagship carrier Lufthansa have reached a preliminary deal on a 9 billion euro ($9.8 billion) bailout, according to two people close to the matter.
The agreement still needs approval by the German coronavirus rescue fund's steering committee, as well as Lufthansa's boards and the European Union commission.
In early May, Lufthansa said it was negotiating a 9 billion euro bailout with Germany's economic stabilisation fund to ensure its future.
K+S: Indebted German mineral miner K+S slashed its dividend proposal to 4 euro cents per share from a previously proposed 15 cents per share to become eligible for state aid.
The company said at the beginning of May it was eyeing loans backed by Germany's development bank KfW, but declined to comment on whether it had already applied for a loan or how big it could be.
THYSSENKRUPP: Thyssenkrupp has secured about 1 billion euros in state aid, sources close to the matter said at the end of April.
The KfW loan should help the conglomerate to get through until money from the sale of its elevator division arrives.
PUMA: The sportswear maker, which in April proposed suspending its dividend due to the pandemic, said earlier this month it had secured a new revolving credit facility of 900 million euros, including 625 million from KfW.
ADIDAS: The sportswear maker, which was forced to suspend dividend payments as a condition of a government-backed loan in mid-April, said it would replace that loan with other financial options as soon as possible.
Manager Magazin said on April 23 Adidas was planning a multi-billion euro bond.
The company initially agreed to take a 2.4 billion euro government-backed loan to cope with the closure of stores and the postponement of the Olympic Games and Euro soccer tournament.
TUI: To cope with the impact of COVID-19, the holiday operator received a 1.8 billion euro loan commitment from KfW to supplement its existing 1.75 billion euro credit agreement.
"The commitment of the KfW bridging loan is an important first step for TUI to successfully bridge the current exceptional situation," said CEO Fritz Joussen at the end of March.
CECONOMY: The electronics supplier secured a government-backed loan of 1.7 billion euros to mitigate the impact of the coronavirus on its business following forced shop closures, the company said at the end of April.
Ceconomy, which had put 20,000 employees on short-time work in Germany but has been reopening stores in the country since mid-April, said one condition of the loan is that the company suspend dividend payments.
SIXT: The German car rental company said earlier in May it had signed a syndicated loan agreement with a bank consortium including state-owned KfW for a revolving credit line of up to 1.5 billion euros, with a term of up to two years.
Among other conditions, Sixt has agreed to waive dividend payments during the term of the loan, except for the annual minimum dividend of 0.05 euros paid for preference shares.
LEONI: The battered German auto supplier will stay afloat with state aid of several hundred million euros. The financing should compensate for delayed payments following halted car production as well as for ongoing costs.
Leoni said on April 20 it was in advanced talks with its banks to obtain a loan, 90 per cent of which would be guaranteed by the federal government and the state of Bavaria.
The firm's banks, which are supposed to bear the rest of the risk, have already shown their support for the plan.
BENTELER: Car parts maker Benteler is considering applying for state-backed loans in Germany, three sources familiar with the talks said last week, adding though its tax status could ruin its chances.
The company, which makes chassis components, steel tubes and exhaust systems, moved from Germany to Austria in 2010 to lower its tax bill, but still employs 9,000 people out of a global workforce of 27,000 in Germany.
DEUTSCHE BAHN: According to supervisory board members, Deutsche Bahn wants to take out more multi-billion euro loans.
A document seen by Reuters on May 11 showed that Germany planned to inject up to 7 billion euros into the rail operator.
Earlier that day, a finance ministry spokesman said no decisions had been taken on how to help Deutsche Bahn deal with the impact of the pandemic, which the group estimates at 11 billion-13.5 billion euros through 2024.
CONDOR: Germany's government and the federal state of Hesse have agreed to give charter airline Condor loans worth 550 million euros, the economy minister said at the end of April, after the owner of Poland's LOT pulled out of a deal to buy the group.
Condor said in a separate statement it would receive a 294 million euro loan as coronavirus aid and an additional 256 million euros to completely refinance a bridging loan it received after the collapse of parent company Thomas Cook.
Ireland defeated Netherlands to top group stage and earn a slot against Scotland
sports10 hours ago
Group's official says Netanyahu's insistence on attacking Rafah was calculated to thwart any possibility of concluding an agreement
mena10 hours ago
The one-day event, accredited by CME, fielded experts from across the globe to discuss cutting-edge advancements in cardiac care
kt network10 hours ago
The inaugural flight took off on Thursday, May 2, according to Indian media outlets
uae10 hours ago
The former security guard set for international debut after famously taking the wicket of Steve Smith with his first ball in Test cricket in January
sports11 hours ago
Mohammed Fattah Al Burhan Rahmane was riding his motorbike in Ankara in March when he collided with a utility vehicle
mena12 hours ago
Those who do not have permits will be directed to return to their point of origin, the Directorate of Public Security said
asia12 hours ago
Nijjar, 45, was shot dead outside a Sikh temple on June 18 in Surrey, a Vancouver suburb
world12 hours ago