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Germany

VW, banks agree terms of 20b bridge loan

Volkswagen has reached an agreement with banks on the terms of a planned 20 billion euro ($21.22 billion) bridge loan to help it shoulder the costs of its emissions scandal, three people familiar with the matter said. Thirteen banks are offering credit portions of either 1.5 billion euros or 2.5 billion euros each, or a total of 29 billion euros, two of the people said, declining to be named.