China Eximbank provides EUR 825 million term loan to Dongfeng Motor (Hong Kong) Interntional Group for debt refinancing for bridge loan for acquisition of a 14.1% ownership stake in PSA Peugeot Citroën Group in 2015

Project narrative

In order to meet its obligation to repay an EUR 830 million bridge loan, Dongfeng Motor (Hong Kong) International Co., Limited entered into a loan agreement, dated 19 October 2015, with The Export-Import Bank of China to obtain a loan in the amount of EUR825 million (the “Exim Bank of China Loan”). The proceeds of the Exim Bank of China Loan will be used to refinance the EUR830 million bridge loan. The Exim Bank of China Loan is guaranteed by Dongfeng Motor Group Company Limited in accordance with the terms and conditions contained in the loan agreement. The loan accrues interest at a semi-annual rate of 2.0% plus 6 month EURIBOR. The loan is repayable in 13 semi-annual installments of EUR5 million, with the remaining EUR760 million repayable on 21 October 2022. The final maturity date: October 21, 2022. The loan agreement contains customary covenants restricting the incurrence of additional guarantees. The agreement also includes covenants, among others, that restrict the Issuer’s ability to: • change its capital structure; • undertake any scheme of amalgamation or demerger; • enter into other financing arrangements for the PSA Peugeot Citroën Group acquisition project; • undertake guarantee obligations on behalf of any other company; and • amend its memorandum and/or articles of association. The loan agreement also contains customary events of default, including the failure to pay principal or interest, certain events of insolvency and material adverse changes that affect the ability of the Issuer to repay the loan. The loan agreement also includes customary conditions relating to the acceleration of the repayment of the outstanding loan amount at the occurrence of an event of default.