UniCredit announced that it had successfully closed a EUR 300 million financing to Samsung SDI, a leading electric vehicle battery producer for the expansion of its plant in Hungary. UniCredit Bank Hungary Zrt. as Facility Agent, Bookrunner and Original Lender together with UniCredit Bank AG Hong Kong Branch as Original Lender supported the company and provided the total financing.
Samsung SDI started setting up a new electric vehicle battery production facility in 2016, which will be further expanded in 2018 and in 2019. With this expansion the total investment by Samsung SDI in Hungary will reach EUR 800 million and create approximately 1,500 jobs in the country.
UniCredit as the main house bank of Samsung SDI Hungary has provided EUR 495 million total financing for this project so far: EUR 195 million in the launch phase and EUR 300 million in the current expansion phase of the battery plant.
Commenting on the closure of the financing, Balázs Tóth, Head of Corporate Investment Banking and Private Banking Division at UniCredit Bank Hungary said, '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. At UniCredit we strive to provide optimal flexibility and availability as well as competitive conditions of financing that enables us to accompany companies like Samsung SDI in their breakthrough project'.