Deutsche Bank has given a loan of €20mn to Mando, an automotive parts manufacturer.

The finance has been extended to the Polish arm of the South Korean company and will be used to expand its Walbrzych manufacturing plant.

The deal has been covered by Korean ECA K-sure and has a tenor of 10 years. Mando’s parent company has guaranteed the facility. A Deutsche Bank spokesperson was unable to confirm any other details of the loan.

Commenting on the transaction, Kaushik Shaparia, Deutsche’s head of trade finance and cash management corporates in Asia Pacific says: “We are delighted to have been chosen by Mando Poland for their first ECA-backed financing facility. This type of financing facility has become an attractive long-term alternative source of funding for many corporates in Asia. We are committed to this business and to helping more Asian companies like Mando to grow their business using innovative financing solutions.”