SWEDEN: Volvo Cars signs two loan agreements
Volvo Car Group (Volvo Cars) has signed two loan agreements with financial partners.
The first agreement is an unsecured working capital back-up facility of EUR240m (US$321.98m) with a maturity of three years. Swedish bank Nordea and ING Belgium have acted as coordinators for the facility, with Norwegian bank DNB and Swedbank of Sweden as additional participating banks. This transaction is important for Volvo Cars in order to develop its core relationship bank group.
In addition, Volvo Cars has entered into an unsecured loan agreement with Swedish Export Credit Corporation of SEK1bn. This facility is for general corporate purposes and has a maturity of three years. The state-owned Swedish Export Credit Corporation provides customised financial solutions to the Swedish export industry.
Volvo Cars is undergoing a turnaround plan to get it to profitability under its Chinese owner, Geely. It is currently engaged on an intensive round of restructuring and cost-cutting.
Despite strong developing competition, Volvo continues to lead in the car safety technologies. Continued work on the improvement of quality and reliability, and above all the safety of users makes the...
The media days for the 2013 Frankfurt Internationale Automobil-Ausstellung (IAA) are 10 & 11 September. Each of the following vehicles is a world premiere at the show....
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
Volvo Cars saw global sales rise 14% in July to 33,650 compared to the same month last year on the back of strong growth in China and a healthy performance in Europe....
Truck Manufacturing in Belgium industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 2016)...
General Motors has hired former Volvo CEO Stefan Jacoby to head up international operations. He replaces Tim Lee, who will take up the position of chairman, GM China....
This QUBE report from just-auto report provides a comprehensive overview of the global electric vehicles and OE starter battery sector, major suppliers, top 14 markets, technology trends and market si...
- Jaguar Land Rover's lightweight future
- INTERVIEW: Ford of Europe's chief, Stephen Odell
- GENEVA WRAP: Europe still struggles, future bright
- THE WEEK THAT WAS: iOS (and Android) in the car
- INTERVIEW: Ford UK fleet director, Phil Hollins
- 'One Ford' has kept us alive in Europe
- GENEVA: Jaguar names 'small' saloon XE
- EXCLUSIVE: Renault axes another EV
- GENEVA: Apple launches car iOS
- Ukraine crisis sparks Russia 'downward pressures'
- Tesla: The Californian start-up that made head way on the automotive giants
- Dacia: The no frills automotive brand, that is becoming a serious world contender
- China’s One-Child Policy is Shaping a New Automotive Landscape
- PLDB - vehicle cycle plan database (annual subscription)
- Global light vehicle HVAC market 2008 to 2028