ANZ Arranges Inaugural Korean Export Credit Agency Loan

Published on:
by KnowESG,


Picture of ANZ Arranges Loan for Southeast Asia's Sustainable Development

ANZ today announced the successful coordination and structuring of an untied financing facility for HLI Green Power's new electric vehicle (EV) battery production facility in Karawang, Indonesia, Southeast Asia's first EV plant.

For the 10-year, USD 711 million Korea Trade Insurance Corporation (K-Sure)-backed Term Loan Facility, the Bank served as Sole ECA Coordinator, Mandated Lead Arranger, Lender, and Facility Agent. The first phase of the project aims to construct a 10GW p.a. facility, to enter mass production in 2024.

HLI is a Joint Venture with Hyundai Motor Group Companies (Hyundai Mobis, Hyundai Motor Company, and Kia Corporation), South Korea's major auto group and maker of electric vehicles, and LG Energy Solution, the world's largest lithium-ion battery manufacturer. It is the first joint venture to cover the EV value chain, from the battery to car production.

ANZ Global Head of Project & Export Finance, Aaron Ross, said: 

“We’re pleased to partner with HLI Green Power on this milestone deal – the first Korean ECA-supported EV battery sector transaction to reach financial close.

“We are seeing significant growth in the EV battery sector as automotive companies look to support the global transition to net-zero. There is particular interest in Indonesia as a hub, given it is home to the world’s largest nickel reserve."

Source: ANZ

For more environmental news


Environment Headlines

Accenture Adopts Electric Vehicles in India Fleet

Accenture Adopts Electric Vehicles in India Fleet

Sharry's Waste Reporting Monitors ESG Workplace

Sharry's Waste Reporting Monitors ESG Workplace

ISS ESG, Qontigo to Reduce Biodiversity Impact

Apollo Tyres: 100% Sustainable Natural Rubber Sourcing

Nippon Shokubai to Explore Green Chemical Business

ADNOC, TAQA Invest $2.4B for Sustainable Water Supply

Whittlesea’s Best and Most Sustainable Business

Champions League Finals with Reusable Packaging

SBC Applauds Major Emissions Reduction Announcement

daa Inspires Airlines: Reduce CO₂ with New Measures