Agricultural Bank of China provides loan to Ningbo Joyson Electronic Corp. to facilitate its acquisition of a 100% equity stake in Preh Holding GmbH

Project narrative

On March 29, 2012, Ningbo Joyson Electronic Corp. purchased 74.90% equity of Preh Holding GmbH—an automotive electronics company established and headquartered in Bad Neustadt a.d. Saale—and 5.10% equity of Preh GmbH by issuing shares. Ningbo Joyson Electronic Corp. also purchased 25.10% equity of Preh Holding GmbH held by DB AGFund IV GmbH & Co. KG and other institutions and individuals by cash payment. Upon the completion of the transaction, Ningbo Joyson Electronic Corp. held 100% equity of Preh Holding GmbH and 5.10% of Preh GmbH. The Agricultural Bank of China provided a loan with an estimated face value of EUR 100 million to facilitate the acquisition. The loan’s estimated borrowing terms included a 6.6% interest rate and 7-year maturity.