Polestar Secures Up to $600 Million Term Loan from Geely Unit

Reuters12-17
Polestar Secures Up to $600 Million Term Loan from <a href="https://laohu8.com/S/00175">Geely</a> Unit

Polestar Automotive Holding UK plc has entered into a new credit agreement with a wholly owned subsidiary of Geely Sweden Holdings AB for a subordinated term loan facility of up to USD 600 million. The facility, which is available to Polestar for general corporate purposes, includes an initial tranche and a further USD 300 million that would require lender consent based on Polestar's future liquidity needs. The agreement aims to support Polestar's ongoing operations and strategic initiatives.

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