December 13, 2012

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 922-million euros 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 600-million euros in the coming years.


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