VOLVO CAR GROUP (VOLVO CARS) AND CHINA DEVELOPMENT BANK HAVE SIGNED A LOAN AGREEMENT UNDER THE UMBRELLA OF THE STRATEGIC PARTNERSHIP, AS ANNOUNCED IN THE MEMORANDUM OF UNDERSTANDING OF APRIL 24 2012
Dec. 13, 2012.- The loan agreement is testament to China Development Bank’s belief in the strength and viability of the Volvo Cars global business plan and corporate strategy.
As a first step under the agreement, the parties have signed a EUR 922 million loan with a maturity in 2020. This loan will be used for a refinancing of Volvo Cars’ current loans. The new loan will improve Volvo Cars’ loan maturity structure with approximately EUR 600 million in the coming years.
More information:
Text and photograph by: Volvo.
