IIB further promotes direct investment in the automotive industry of its member states: financial support provided to Faurecia SE
International Investment Bank acted as an investor in Schuldscheindarlehen (SSD) issue of the French Faurecia SE Group, one of the global leaders in the development of innovative solutions, technologies, components and interfaces for the automotive industry. The total volume of resources allocated by IIB amounts to EUR 50 mln with Commerzbank AG and Helaba acting as lead arrangers for the deal.
According to the terms of the loan agreement, IIB's funds provided for up to 8 years would be allocated to expand direct investments of the Group in 5 member states of the Bank. Thus, the Bank’s participation in this transaction will support the sustainable development of a strategically important automotive industry, which provides a significant share of exports and employment in these countries.
Faurecia Group is one of the world's leading developers of innovative solutions for the “green” transport, its Sustainable Mobility strategy is designed to support a progressive transition of the global automotive industry to clean technologies.
The Group currently operates 266 manufacturing plants, 39 research and development centres in 35 countries employing over 114,000 people and has the world’s 10 major carmakers as its clients.At least 1/3 vehicles worldwide involve Faurecia technologies and components. The Group conducts large-scale scientific research and is a confident leader in such areas as solutions for hydrogen and electric propulsion systems, the development of hydrogen energy infrastructure, low-emission technologies for internal combustion engines, etc.
Faurecia's activities are aimed at contribution of the achievement of the UN Sustainable Development Goals (SDGs), such as combating negative impact of climate change, reducing greenhouse gas emissions, widely using "sustainable", "clean", energy efficient and waste-free technologies and products. The Group's strategic plans provide for becoming a CO2 neutral company by 2030. An important place in the ESG strategy is also given to positioning Faurecia as a responsible employer.
“The partnership with Faurecia is of high importance for IIB for a number of significant reasons. First, both the Group and IIB pay special attention to such vital non-financial effects of our operations as environmental protection and social development. Secondly, supporting this transaction, IIB contributes to attracting direct investments in the key industry of our 5 member states at once, supports sustainable development and “green transformation” of the global automotive industry.” said Georgy Potapov, Deputy Chairperson of the IIB Management Board in charge of the Lending and Investment.