VGMobility gets $95.5 million facility for electric-bus project

By Wendy Van Sickle

Columbus, Ohio, Oct. 31 – VGMobility closed a $95.5 million senior credit facility led by Natixis CIB to finance three green mobility concessions for the supply of clean transportation and clean charging solutions within the TransMilenio transit system in Bogota, Colombia, according to a news release.

The concessions called for the delivery of 406 electric buses to replace TransMilenio's aging zonal fleet, as well as the installation of an electrical bus-charging patio.

"We are thrilled to have achieved 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, VGMobility's chief financial officer. "With this financing and thanks to Natixis' thorough understanding of Transmilenio and our operations, we were able to put together a solution that enables incumbent operators to accelerate their mandatory fleet renewals with e-buses, institutional investors and commercial lenders to consolidate their understanding of the asset class and Bogota to consolidate its position as an example for other cities in the successful implementation of sustainable transportation at scale."

VGMobility is an e-mobility platform aiming at developing and investing in large scale e-mobility projects in the Americas.

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