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Zhong Lun Advises on RMB600Million Syndicated Loan to Volvo Automotive Financial (China) Limited
Zhong Lun Advises on RMB600Million Syndicated Loan to Volvo Automotive Financial (China) Limited
Recently, the syndicate, consisting of Crédit Agricole and Bank of Tokyo-Mitsubishi UFJ, and Volvo Automotive Financial (China) Limited (“VAFC") successfully entered into a facility agreement in respect of RMB600 million syndicated loan project. Zhong Lun Law Firm represented the syndicate on this syndicated loan project. Shirley Lu Jing, partner of Shanghai Office, led the team that comprised associates Andy Li Li, Josh Peng Jun and Will Lu Yaosong.
VAFC is a wholly-owned Chinese subsidiary of AB Volvo (publ) of Sweden and its main business includes providing automotive purchase loans to automotive dealers, financial leasing. This syndicated loan will be used by VAFC not only to refinance its short-term debts but also to satisfy its continuously increasing capital demand arising from its automotive loans and financial leasing business, which will further inevitably propel Volvo Group’s expansion in the China market.