ANNOUNCEMENT 09 Dec 2015
In December 2015, the Nordic Investment Bank (NIB) signed a loan agreement with Demant A/S to support its 2015-2016 research and development activities in the area of hearing aid solutions.
NUMBER OF INTERVENTIONS
The Nordic Investment Bank, Denmark. William Demant Holding A/S: https://www.nib.int/what_we_offer/agreed_loans/463/william_demant_holding_a_s
The Nordic Investment Bank, press release of 9 December 2015, NIB finances R&D in hearing technology: https://www.nib.int/what_we_offer/agreed_loans/463/william_demant_holding_a_s
The Nordic Investment Bank, Questions & answers: https://www.nib.int/who_we_are/q_a
William Demant A/S: https://www.demant.com/about/our-history
On 9 December 2015, the Nordic Investment Bank (NIB) and Demant A/S signed a loan agreement having a total value of DKK 600 million (approx. USD 88.6 million). The maturity of the loan is 7 years.
The loan will support the company's research and development activities in the area of wireless hearing aid devices and improving its acoustic implants. In this context, the NIB President & CEO Henrik Normann stated in a press release: "Apart from helping the company maintain its leading position in a highly competitive market, we hope that NIB’s loan will contribute to creating sector-specific knowledge and cluster linkages in Denmark’s life sciences industry"
William Demant A/S is part of The Demant Group with headquarters in Denmark. The company is a producer of hearing aid solution and has an international presence in 30 counties with its products being available in more than 130 countries.
The NIB is an international financing bank and is jointly owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank provides financing to private and public projects mainly located in the eight countries at attractive conditions. The eligibility criteria of NIB financing is that: "All projects financed by NIB should improve competitiveness and/or the environment, in accordance with NIB's mandate and eligibility criteria. Furthermore, outside the membership area, projects financed by NIB should be of mutual interest to the country of the borrower and the member countries."
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