VGMobility and Natixis Company & Funding Banking announce .5 million facility to finance electrical bus concessions for TransMilenio
Banking and Investment

VGMobility and Natixis Company & Funding Banking announce $95.5 million facility to finance electrical bus concessions for TransMilenio

NEW YORK, Oct. 31, 2022 /PRNewswire/ — VGMobility and Natixis Company & Funding Banking (Natixis CIB) introduced the closing of US$95.5 million senior facility to finance three separate inexperienced mobility concessions totally owned by VGMobility for the provision of fresh transportation and clear charging options inside the TransMilenio transit system in Bogotá, Colombia.

The concessions known as for the supply of 406 electrical buses to interchange TransMilenio’s growing older zonal fleet, the place greater than ~25% of the fleet was greater than ~18 years outdated, in addition to the set up of a state-of-the-art electrical bus charging patio.

“We’re thrilled to have achieved this closing within the present market surroundings, which proves that e-mobility tasks stay enticing in a context of excessive volatility,” mentioned Jean-Francois Joachim, VGMobility’s Chief Monetary Officer. “With this financing and due to Natixis’ thorough understanding of Transmilenio and our operations, we had been capable of put collectively an answer that permits incumbent operators to speed up their necessary fleet renewals with e-buses, institutional traders and industrial lenders to consolidate their understanding of the asset class and Bogota to consolidate its place for instance for different cities within the profitable implementation of sustainable transportation at scale.”

Owned and developed by Vitol Funding Partnership II Restricted, VGMobility goals to spend money on the inexperienced transportation sector throughout Latin America, specializing in the deployment {of electrical} fleets and infrastructure options in numerous metropolises.

Natixis CIB acted as Sole Structuring Financial institution, Sole Underwriter, Sole Hedging Financial institution and Administrative Agent for the financing. The senior debt was structured as a mini perm facility divided into three tranches, cross-collateralized and mixed with a cross-currency hedge designed to isolate the lenders from FX volatility danger and align the forex below the liabilities with the income stream.

The transaction marks Natixis CIB’s third financing of TransMilenio-backed concessions in simply over 12 months, following the location of two separate USPPs for Grupo Categorical and Grupo Masivo corporations in the summertime and fall of 2021.

“We’re delighted to help VGMobility within the growth and consolidation of its inexperienced mobility platform and, as soon as once more, Transmilenio within the renewal and modernization of the capital district’s fleet,” mentioned Gregoire Moriani, Govt Director, Natixis CIB Infrastructure and Vitality Finance Americas. “Devoted to offering revolutionary monetary options, we’re strongly dedicated to power transition inside the vital sector of transportation within the Latin American area. We imagine that this financing will enhance these traces’ effectivity, reliability, sustainability, and luxury, and are proud to witness the affect that VGMobility, our associate on this alternative, has had on the group by which it operates.”

With greater than 4 million passengers per day, the renewal and modernization of the TransMilenio fleet will present financial, social, and environmental sustainability advantages all of the whereas enhancing air high quality within the district of Bogotá. These 406 new electrical buses additional cement Bogota’s place atop the Latin American rankings, with near 1,500 electrical buses in circulation, and have made it town with the most important electrical bus community on the planet exterior China, consolidating Colombia’s place as a frontrunner on electrification in Latin America.

About VGMobility

VGMobility is an e-mobility platform aiming at growing and investing in massive scale e-mobility tasks, which embrace the optimum dimensioning, design, implementation, acquisition and administration of the complete resolution to permit the a sustainable rollout of e-mobility within the Americas.

About Natixis Company & Funding Banking

Natixis Company & Funding Banking is a number one international monetary establishment that gives advisory, funding banking, financing, company banking and capital markets companies to companies, monetary establishments, monetary sponsors and sovereign and supranational organizations worldwide.

Our groups of specialists in 30 international locations advise shoppers on their strategic growth, serving to them to develop and rework their companies, and maximize their optimistic affect. We’re dedicated to supporting the environmental transition by aligning our financing steadiness sheet with a +1.5°C trajectory by 2050.

As a part of the International Monetary Providers division of Groupe BPCE, the second largest banking group in France via the Banque Populaire and Caisse d’Epargne retail networks, Natixis CIB advantages from the Group’s monetary energy and strong monetary scores (Customary & Poor’s: A, Moody’s: A1, Fitch: A+, R&I: A+).

Natixis CIB Press contact:
Tara Flanagan, Prosek Companions
[email protected]
Tel: +1 646 818 9022

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VGMobility and Natixis Company & Funding Banking announce .5 million facility to finance electrical bus concessions for TransMilenio