The loan was announced on 12 September and will see Saab borrow €70m from Youngman in exchange for offering non-exclusive rights in its Phoenix architecture technology.

In a statement Saab added that further payments under the amended and final bridge loan agreements signed between Youngman and Saab Automobile are expected to be made during this week and by 22 October of this year.

Saab said that its reorganisation is progressing and that it is looking to repay the bridge loan with the proceeds of the €245 million equity investments by Youngman and Pang Da, which it believes will be approved by the Chinese authorities in the coming weeks.