Porsche sells hybrid bond to finance VW investment

Newswire

FRANKFURT, Dec 20 (Reuters) - German carmaker Porsche said it sold a hybrid bond worth 1 billion euros ($1.44 billion) to finance its investments in peer Volkswagen and to increase its cash reserves. Porsche placed the bond in Dublin with large institutional investors in Europe, Asia and the Middle East, the company said on Thursday in a statement. (Reporting by Peter Dinkloh)

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