UniCredit provides financing to Samsung SDI in Hungary

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, a press release by UniCredit reads. 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".