Nov 19, 2008
LeasePlan seeks government backing for debt issue
LeasePlan Corporation NV, Europe's largest auto leasing company, said Wednesday it has asked the Dutch state to act as guarantor for euro1.5 billion ($1.9 billion) worth of bonds it plans to issue.
Chief Financial Officer Guus Stoelinga said the company is not facing liquidity problems, but had decided to seek state assistance because regular credit markets have been nearly frozen by the global credit crunch.
He said he expected to hear within several days whether the government will back the debt issue.
Read full story from The Associated Press
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