To help fund its takeover bid for Volkswagen AG, Porsche has taken on a loan of $46.67 billion and appointed several investment banks to arrange the credit. The sports carmaker recently lifted its stake in VW to 30.94%, a move, which under German law, forced it to launch a takeover bid.

The new capital will be used to finance the public tender offer for the remaining shares and will eventually be refinanced with capital-market issued bonds. The actual loan is sub-divided into four main sections including two one-year bills and two three-year notes with a two-year term out option.

Porsche will be submitting details to German regulatory bodies within the next four weeks and has to await final approval from before the official offer can be made. If approved, it means Porsche will have control of mass-market brands like Skoda as well as premium niche players such as Bugatti and Bentley.