Deal details
SK On Hungary - ECA Covered Loan
Description
Euler Hermes, KSure and KEXIM joined together in an ECA backed financing for SK On Hungary. SK On Hungary is SK Innovation’s first European battery plant to produce third-generation battery cells for Global auto maker using pouch technology.
Sustainable categories
- GL6: Clean transportation
- None
Companies involved
- Milbank LLP
- Societe Generale, Sumitomo Mitsui Banking Corporation (SMBC), Credit Agricole CIB, MUFG, BNP Paribas, HSBC, ANZ (Australia and New Zealand Banking Group)
- MUFG, Credit Agricole CIB
- HSBC, BNP Paribas
- CMS
- Export Import Bank of Korea - KEXIM
- Bae, Kim & Lee, Baker McKenzie
- Euler Hermes Aktiengesellschaft, KSURE - Korea Trade Insurance Corporation
- HSBC, BNP Paribas
- Credit Agricole CIB
Key information
SK On Hungary
2000$m
13-10-2022
Power / Battery storage
Hungary
Export & Agency Finance
Equipment purchase
Corporate finance
New finance
Tranche information
KEXIM Covered Loan
200$
ECA-backed buyer credit
200$m
US Dollar - USD
0
7.0 years
KSURE - Korea Trade Insurance Corporation
-
-
| Participant | role | ticket size |
|---|---|---|
| ANZ (Australia and New Zealand Banking Group) | MLA | 23$m |
| BNP Paribas | MLA | 50$m |
| Credit Agricole CIB | MLA | 23$m |
| HSBC | MLA | 50$m |
| MUFG | MLA | 17$m |
| Societe Generale | MLA | 17$m |
| Sumitomo Mitsui Banking Corporation (SMBC) | MLA | 17$m |
Ksure Covered Loan
700$
ECA-backed buyer credit
700$m
US Dollar - USD
0
7.0 years
KSURE - Korea Trade Insurance Corporation
-
-
| Participant | role | ticket size |
|---|---|---|
| ANZ (Australia and New Zealand Banking Group) | MLA | 82$m |
| BNP Paribas | MLA | 175$m |
| Credit Agricole CIB | MLA | 82$m |
| HSBC | MLA | 175$m |
| MUFG | MLA | 61$m |
| Societe Generale | MLA | 61$m |
| Sumitomo Mitsui Banking Corporation (SMBC) | MLA | 61$m |
Euler Hermes Covered Loan
800$
ECA-backed buyer credit
800$m
US Dollar - USD
0
7.0 years
Euler Hermes Aktiengesellschaft
-
-
| Participant | role | ticket size |
|---|---|---|
| ANZ (Australia and New Zealand Banking Group) | MLA | 94$m |
| BNP Paribas | MLA | 200$m |
| Credit Agricole CIB | MLA | 94$m |
| HSBC | MLA | 200$m |
| MUFG | MLA | 70$m |
| Societe Generale | MLA | 70$m |
| Sumitomo Mitsui Banking Corporation (SMBC) | MLA | 70$m |
KEXIM Direct Loan
300$
ECA-Direct Loan
300$m
US Dollar - USD
0
-
-
-
-
| Participant | role | ticket size |
|---|---|---|
| Export Import Bank of Korea - KEXIM | ECA direct lender | 300$m |