UniCredit finances Samsung SDI expansion in Hungary
jessica fejos
UniCredit announced it has successfully closed a EUR 300 million financing deal with Samsung SDI for the electric vehicle battery producer’s factory expansion in Göd (approximately 25 km north of Budapest).
UniCredit Bank Hungary is acting as facility agent, bookrunner, and original lender in financing the expansion, with UniCredit Bank Hong Kong also an original lender. Samsung SDI’s electric vehicle battery production facility was set up in 2016, with further expansions planned for this year and 2019.
With the expansion, Samsung SDI’s investment in Hungary is set to reach EUR 800 mln, creating some 1,500 jobs in the process. Prior to today’s news, UniCredit had already provided EUR 195 mln for the company in the launch phase, as the main bank of Samsung SDI Hungary.
“We greatly appreciate our long-standing partnership with Samsung SDI and are delighted to be in a position to solely arrange the structuring of such a sizable transaction,” said Balázs Tóth, head of corporate investment banking and the private banking division at UniCredit Bank Hungary.
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