3 Aug 2020
EUR 60 million
Industries and services
NIB and Volvofinans Bank AB (publ) have signed an agreement for a SEK 350 million (EUR 38 million) loan facility to finance the sales of commercial vehicles to small and medium-sized enterprises and small mid-cap companies in Sweden.
The loan programme is expected to facilitate investments by smaller businesses in trucks, trailers, buses and vans from Volvofinans's associated dealers in Sweden. The programme’s scope is limited to financing the acquisition of commercial vehicles and is not expected to have a significant impact on the environment.
Volvofinans Bank was established in 1959 with the primary task of supporting the sales of associated car and truck dealers in the Swedish market. About 70% of Volvofinans Bank’s lending volume originates from car and truck sales financing.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact
Mr Ralf Hansson, Senior Manager, Origination, at +358 10 618 0268,
Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,