Australia’s Export Finance and Insurance Corporation (EFIC) has announced it is supporting the export programs of General Motors Holden (GMH) with a working capital line of credit of up to $200 million.
The facility has been put in place to provide support for GMH exports of vehicles, parts and engineering services to Europe, the Middle East, Africa and Asia as the Australian manufacturer establishes stronger market links under the newly created General Motors Company.
The Government has approved the request from GMH under the EFIC Act.
The secured line of credit of up to $200 million has been agreed but not drawn and is subject to commercial terms and conditions.
“Holden is an iconic Australian company and EFIC is delighted to support GMH’s ongoing export activities,” said EFIC Managing Director & CEO, Angus Armour.