Volvo Car Group signs EUR 922 million loan agreement with China Development Bank
Volvo Car Group (Volvo Cars) and China Development Bank have signed a EUR 922 million loan with maturity in 2020. As announced on Volvo Cars’ website, the loan will be used for a refinancing of Volvo Cars’ current loans and has been signed under the umbrella of the strategic partnership announced by the parties on 24 April 2012.
Mannheimer Swartling advised Volvo Cars in connection with the drafting and negotiation of the finance documents. The team handling legal issues in the transaction comprised Rosmarie Söderbom from Volvo Cars, André Andersson and Mikael Lindgren from Mannheimer Swartling’s office in Stockholm, and Ida Gao from Mannheimer Swartling’s office in Shanghai.