KfW IPEX-Bank provides first-time financing in renminbi

Frankfurt am Main (ots) -

- Expansion of the Chinese production facilities of BSH GmbH
- Support for the export economy: EUR 15.5 million worth of German
and European exports

KfW IPEX-Bank is financing German and European exports to expand
the Chinese production facilities of BSH Bosch und Siemens Hausgeräte
GmbH. The corresponding agreements were signed on 28 May 2014. The
loan of CNY 100 million (approximately EUR 12 million) with a
five-year term is the bank's first financing in the Chinese currency.

The German and European supplies worth around EUR 15.5 million
represent a significant part of the production facility expansion.
Ten German and two Italian medium-sized companies are providing the
systems and testing technologies. Among the exporters are Kiefel GmbH
from Freilassing in Bavaria, Feutron Klimasimulation GmbH from
Langenwetzendorf in Thuringia as well as Elabo GmbH from Crailsheim
in Baden-Wuerttemberg.

"This financing is extremely important for KfW IPEX-Bank," remarks
Markus Scheer, responsible Management Board member, about the
business transaction. "The loan marks our first financing in renminbi
and is, as such, a pilot transaction for the bank. We are also
helping our business partner BSH with its internationalisation and
supporting the export economy by financing German and European
supplies".

BSH Bosch und Siemens Hausgeräte GmbH achieved turnover of around
EUR 10.5 billion in 2013 and has approximately 50,000 employees,
making it one of the largest home appliance manufacturers in Europe
and one of the world's leading companies in the sector. The Group
manufactures products at 41 factories and is represented in 47
countries through 80 companies. The BSH production facilities are
primarily located in Europe where the majority of the Group's sales
are generated. Production in China serves the local market.

About KfW IPEX-Bank GmbH

Within the KfW Group, KfW IPEX-Bank is responsible for
international project and export finance. Its function of providing
financing to boost the German and European economy is derived from
the legal mandate assigned to KfW. It offers medium- and long-term
financing to support key export industries, to develop economic and
social infrastructure and to fund environmental and climate
protection projects. KfW IPEX-Bank operates as a legally independent
group subsidiary and plays a major role in fulfilling KfW's
promotional mission. It is represented in the most important economic
and financial centres across the globe.

Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: Dela Strumpf, E-Mail: dela.strumpf@kfw.de
Tel. 069 7431 2984, Fax: 069 7431 9409, E-Mail:
info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de