Volvo Car Group (Volvo Cars) has extended its core relationship bank group with BNP Paribas, who join the credit facility provided by a European bank group at a ticket of EUR 60 million.
The unsecured revolving credit facility now totals EUR 360 million with maturity in 2016. In addition to BNP Paribas, the bank group consists of Nordea, ING Belgium, DNB, Swedbank and Santander Bank.
“We are very pleased to add BNP Paribas as a financing partner and believe their contribution will serve to strengthen our core relationship bank group. With six highly reputable banks currently in this facility, as well as the lending commitments from China Development Bank and Swedish Export Credit Corporation, we have achieved significant progress in our funding plans,” says Patrik Tolf, Deputy CFO & Group Treasurer at Volvo Cars.