The Group’s financing strategy remains unchanged. All financial liabilities will be raised by Daimler AG and its financing companies and will continue to be managed centrally by Treasury. All financial risks such as liquidity, exchange rate, investment and interest rate risks will continue to be managed centrally by Daimler AG. The pension assets of the German investment platform are also managed centrally. Both the funded status of pension obligations and the investment of pension assets for the Group as a whole are managed centrally.
Under the new Group structure, the Daimler Group continues to pursue the goal of a uniform presence on the credit markets. Therefore, there will be only one credit rating for the Group and no access to the bond markets for the individual divisions. This holistic financing approach ensures favourable credit terms for the entire Group.
Control and profit and loss transfer agreements exist between Daimler AG and the new stock corporations.
The new stock corporations are mainly financed internally, i.e. with the equity of the parent company (Daimler AG) and through inter-company loans.
The financing of our financial services business will not change, i.e. it will be financed through internal Group financing or through direct loans. These will be arranged and secured by the holding company (Daimler AG).
This means that for lenders and buyers of our corporate bonds the new structure will in principle not change anything: Daimler will continue to operate uniformly on the capital market and Daimler AG will continue to guarantee all external financial liabilities of our subsidiaries.