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© bahar bostanci dreamstime.com Business | June 20, 2016

Dräxlmaier gets EBRD funds

The European Bank for Restructuring and Development - EBRD - has subscribed to a debut Schuldschein loan placed by German automotive supplier Draexlmaier Group in the amount of EUR 40 million.
The Loan will enable Draexlmaier to expand production capacity in Romania, Moldova, Serbia, FYR Macedonia and Tunisia. The total project cost is stated with EUR 90 million.

As this is capital market transaction with limited direct access to corporate bond issuer the due diligence carried out by ESD was based on the reports and documentation delivered by the Company under the existing annual reporting obligations related to 2013 Draexlmaier project and was aimed at assessing the corporate management systems and the capacity of the sponsor to implement the EBRD's requirements across the portfolio of sites that are subject to the investment programme including capacity expansions, upgrades and brownfield investments in Romania, Moldova, Serbia, FYR Macedonia and Tunisia, the EBRD states in a release.

Draexlmaier Group is a family-owned tier-one supplier to the automotive industry and headquartered in Vilsbiburg (Germany). It develops, manufactures and sells electrical and interior systems to premium manufacturers such as BMW, Mercedes-Benz, Audi and Porsche and operates globally in over 20 countries with over 60 site locations and employs 55,000 people.
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