(Bloomberg) — At least 18 commercial banks are involved in Wirecard AG’s existing revolving credit facilities worth almost 2.5 billion euros ($2.8 billion), according to data compiled by Bloomberg.
The German payments company has warned that loans up to 2 billion euros could be terminated if its audited annual report was not published on Friday.
Read more: Wirecard’s $2.1 Billion Hole Deepens After Forgery Claim
Wirecard has a 1.75 billion euros revolving facility due June 2024 and a 725 million euros line due March 2021. Roughly 10 banks have lent to both facilities including Agricultural Bank of China Ltd., Bank of China Ltd., Commerzbank AG, Deutsche Bank AG, DZ Bank AG, and Landesbank Baden-Wuerttemberg.
The 1.75 billion revolver has about 800 million euros outstanding, according to Bloomberg data. The company had repaid part of the facility from a 500 million euros debt sale last year.
Banks typically take and hold their revolving credit facilities’ commitments for high-grade companies which means most of Wirecard’s lenders may not have offloaded their lending risks in the company.
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