Daimler-Benz North America Corporation to Enter $4 Billion in Syndicated Credit Agreements.NEW YORK--(BUSINESS WIRE)--June 19, 1998--Daimler-Benz North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. Corporation (DBNA DBNA Du Bist Nicht Allein (German) DBNA Digitale Bibliografie Nederlandse Archeologie (Dutch) ) today announced that it has entered into syndicated credit agreements totaling $4 billion with a group of 34 international banks. The new credit agreements are comprised of a $3 billion 364-day facility and a $1 billion five-year facility. Both agreements are available for general corporate purposes, including backstopping DBNA's commercial paper program. The agreements replace existing bilateral credit lines and commitments, which previously served such purpose. DBNA's desire to obtain these credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities is entirely unrelated to the planned merger of its parent company Daimler-Benz AG with Chrysler Corporation. The new credit agreements were arranged by J.P. Morgan, which will also serve as Administration Agent. Deutsche Bank and Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. were Syndication Agent and Documentation Agent, respectively. DBNA is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Daimler-Benz AG, and the holding company and financial center of most of the Daimler-Benz activities in the Nafta region. In 1997, DBNA had consolidated revenues of $14.3 billion and a net income of $305 million. Daimler-Benz is a leading provider of technologically advanced transportation products, systems and services, with 300,000 employees worldwide and annual revenues of approximately $70 billion. The company is focused on the development and manufacture of Mercedes-Benz passenger and commercial vehicles, Freightliner and Sterling trucks, aircraft (Airbus) and space systems among other activities. North America, where Daimler-Benz has more than 20,000 employees, is not only the group's largest export market, but also a significant location for manufacturing, product development and cooperative ventures. (NYSE NYSE See: New York Stock Exchange Symbol:DAI). For more information on Daimler-Benz North America Corporation, its subsidiaries and affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. , please visit our website at www.daimlerbenz-na.com
CONTACT: Daimler-Benz North America Corporation
Christiane Fischer
Tel.: 212-909-9714
Fax: 212-308-4252
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