Volkswagen says it has decided to repay early a pair of loans from the European Investment Bank totaling 975 million euros (nearly $1.1 billion) as the company grapples with fallout from its diesel-emissions scandal.
Volkswagen said Monday that the loans were approved at the end of 2014. In an emailed response to a query about the repayment, it stressed that it was voluntary but didn't specify when they were due for repayment.
Volkswagen CEO Matthias Mueller (AP Photo/Michael Sohn,file)The company said it decided on the repayment "to defuse the public debate" in view of investigations into the scandal surrounding emissions-cheating software, but that there was no direct connection of any kind between the loans and the diesel issue.
Volkswagen faces investigations by various authorities in the emissions scandal.