Faurecia, a French automotive components producer, has received EUR122.5m loan from European Bank for Reconstruction and Development (EBRD) to support its expansion plans.
As part of its capital expenditure plan, the company will use this funding in the four EBRD countries of operations, Morocco, Poland, Romania and Russia.
Around EUR40m of the total amount will be offered by the EBRD on its own books as an A loan, while the remaining will be syndicated as a B loan to Sberbank Group, BNP Paribas and Société Générale and Bankinter.
Faurecia offers services in four areas of automotive business, including automotive seating, interior systems, emission control technologies and automotive exteriors. It operates a R&D and production network with sites in 34 countries.
Other investments of the bank in the automotive industry include a loan to Fiat to modernize its operations in Poland.
Other firms such as General Motors, Toyota, Renault, Volkswagen and other domestic and international suppliers have also received loans to support their expansion plans.
