Spyker Makes Final Cash Payment for Saab

The Netherlands-based Spyker Cars, which has never made a profit, took over Saab from G.M. this year and is now working towards reviving the brand.
Spyker used internal financing instead of the new debt to pay General Motors the final $24 million it owed for Saab. The new ended people’s concern over Spyker’s capability to fund the final payment. The company spent $400 million for Saab, which included $326 million in preferred shares that Saab will issue to GM, and $74 million in cash.
According to Spyker, it is announced that it intended to fund the payment primarily with senior debt and that it had pledged assets to G.M. as security for the final payment.