Press Release
Date of issue   Dec 13, 2012 | ID: 47131

Volvo Car Group signs loan agreement with China Development Bank

 

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.

 

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.

Media Contacts

 

Per-Åke Fröberg

Director Volvo Cars Heritage

Volvo Car Group

 

Phone: +46 31 3257654

Mobile: +46 31 3257654

per-ake.froberg@volvocars.com

 

   
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Volvo Car Group

PVH50, 50200

SE-405 31 Göteborg

Sweden

Phone: +46 31 59 65 25

Fax: +46 31 54 40 64

https://www.media.volvocars.com/

 

Registered Office
Göteborg, Sweden
Registration No.
556074-3089

Descriptions and facts in this press material relate to Volvo Car Group's international car range. Described features might be optional. Vehicle specifications may vary from one country to another and may be altered without prior notification.