VGMobility and Natixis Corporate & Investment Banking announced a $95.5 million facility to finance electric bus concessions for TransMilenio | Techy Kings


NEW YORK, Oct. 31 2022 /PRNewswire/ — VGMobility and Natixis Corporate & Investment Banking (Natixis CIB) announce the closing US$95.5 million senior facility to finance three separate green mobility concessions wholly owned by VGMobility for the supply of clean transport and clean charging solutions in the TransMilenio transit system in Bogotá, Colombia.

The concession calls for the delivery of 406 electric buses to replace the aging TransMilenio zone fleet, where more than ~25% of the fleet is more than ~18 years old, as well as the installation of state-of-the-art electric buses. charging patio.

“We are very excited to achieve this closing in the current market environment, which proves that e-mobility projects remain attractive in a context of high volatility,” said Jean-Francois Joachim, Chief Financial Officer of VGMobility. “With this funding and thanks to Natixis’ comprehensive understanding of Transmilenio and our operations, we are able to put together a solution that allows incumbent operators to accelerate their mandatory fleet renewal with e-buses, institutional investors and commercial lenders to consolidate their understanding of the asset class and Bogota to strengthen its position as an example for other cities in the successful implementation of sustainable transport at scale.”

Owned and developed by Vitol Investment Partnership II Limited, VGMobility aims to invest in the green transport sector across the board Latin Americafocusing on the deployment of electric fleets and infrastructure settlement in various metropolises.

Natixis CIB acted as Sole Structuring Bank, Sole Underwriter, Sole Hedging Bank and Administrative Agent for the financing. The senior debt has been structured as a mini-perm facility divided into three tiers, cross-secured and combined with a cross-currency hedge designed to insulate the lender from the risk of FX fluctuations and align the currency under the liability with the revenue stream.

The transaction marks the third financing of the TransMilenio-backed concession by Natixis CIB in just over 12 months, following the placement of 2 separate USPPs for the companies Grupo Express and Grupo Masivo in the summer and autumn of 2021.

“We are pleased to support VGMobility in the development and consolidation of its green mobility platform and, once again, Transmilenio in the renewal and modernization of the capital region’s fleet,” said Gregoire Moriani, Executive Director, Natixis CIB Infrastructure and Energy Finance Americas. “Dedicated to providing innovative financial solutions, we are deeply committed to the energy transition in the critical transport sector in the Latin American region. We believe that this financing will increase the efficiency, reliability, sustainability and comfort of this channel, and are proud to witness the impact that VGMobility, partner our share in this opportunity, already has on the communities in which it operates.”

With more than 4 million passengers per day, the renewal and modernization of TransMilenio’s fleet will provide economic, social and environmental sustainability benefits while improving air quality in the district of Bogotá. The new 406 electric bus continues to strengthen Bogota ranking above the ranking of Latin America, with almost 1,500 electric buses in circulation, and has made it the city with the largest network of electric buses in the world outside Chinaunify Colombia position as a leader in the field of electrification in Latin America.

About VGMobility

VGMobility is an e-mobility platform that aims to develop and invest in large-scale e-mobility projects, which include optimal dimensioning, design, implementation, procurement and management of full solutions to enable sustainable e-mobility rollout in America. .

About Natixis Corporate & Investment Banking

Corporate & Investment Banking Natixis is a leading global financial institution providing advisory, investment banking, financing, corporate banking and capital markets services to companies, financial institutions, financial sponsors and sovereign and supranational organizations worldwide.

Our team of experts in 30 countries advise clients on their strategic development, help them grow and transform their businesses, and maximize their positive impact. We are committed to supporting the environmental transition by aligning our funding balance sheet with the +1.5°C trajectory by 2050.

As part of the Global Financial Services division of Groupe BPCE, the second largest banking group in French through the Banque Populaire and Caisse d’Epargne retail chains, Natixis CIB benefits from the Group’s financial strength and strong financial ratings (Standard & Poor’s: A, Moody’s: A1, Fitch: A+, R&I: A+).

Natixis CIB Press contact:
Tara FlanaganProsek Partners
[email protected]
Tel: +1 646 818 9022

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SOURCE Natixis


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