Ford Otosan Romania, a subsidiary of Ford Otosan, has signed a seven-year credit agreement worth 435 million EUR with a banking syndicate led by Societe Generale and BRD, the bank said in a press release on Tuesday.

The loan will help finance the next generation Ford Transit Courier and Ford Tourneo Courier, as well as the launch of the new Ford Puma, including all-electric versions of these models, at Ford’s Otosan plant in southern Craiova.

„Our plant in Craiova plays a significant role in establishing Ford Otosan’s leading position in electric vehicle production in Europe. We are pleased to announce the signing of a syndicated loan agreement to finance ongoing investment projects in vehicles and engineering at the Craiova plant to realize our growth plans in Europe. This loan is a strategic step that underlines the importance of the Craiova plant in Ford Otosan’s future plans. We thank Societe Generale, BRD and all syndicate banks for their trust, collaboration and contribution to Ford Otosan’s future,” said Gul Ertug, CFO Ford Otosan.

Societe Generale and its Romanian subsidiary BRD, acted as Coordinating Mandated Lead Arrangers and Bookrunners in the transaction, in which a large group of international and Romanian banks also participated.AGERPRES