Valmet delivers board machines to China’s third largest board manufacturer
Finnvera provides a buyer credit guarantee for a loan of approximately EUR 56 million, granted by the German DZ BANK AG acting as sole arranger and lender to finance the export transaction.
Shanying Paper is currently China's third largest board manufacturer. Finnvera has previously guaranteed Valmet's deliveries to the company's Huazhong unit in 2019. Now, Shanying is investing in the construction of two new high-quality packaging board production lines in Guangdong Province, southern China. The total production capacity of the board lines is one million tons per year. Global demand for board is driven by increasing urbanization, growing e-commerce, declining use of plastics, and growing demand for food packaging.
“We are proud to be partnering with Finnvera again in order to provide financing to Shanying for the delivery of Valmet’s state of the art technology and to accomplish to this financing with a sustainable footprint pursuant to international standards", comments DZ BANK.
Signing date of the Finnvera Guarantee Agreement: 18 August 2021
Name of the Guarantee Holder: DZ BANK AG Deutsche Zentral Genossenschaftsbank
Name of the Exporter: Valmet Technologies Oy
Name of the Lender: the Guarantee Holder
Name of the Buyer and Borrower: Shanying Paper (Guangdong) Co., Ltd
Name of the Guarantor: Shanying International Holdings Co. Ltd
Export transaction/Goods: equipment and related services to the two board machines PM 52 and PM 53
Country of Export transaction/project: China
Credit amount: EUR 55,056,940.05
Credit period: 10 months + 10 years
Percentage of cover: 95%
Environmental and social classification: B
Contact point: [email protected]