Linklaters advises CA CIB and NEoT Green Mobility on the financing of a fleet of 25 electric buses operated in Santiago, Chile
Linklaters has advised Crédit Agricole Corporate and Investment Bank (CA CIB) and NEoT Green Mobility (NGM) on the financing of a fleet of 25 electric buses leased to the company Red Bus Urbano, which is operating certain public transport lines in the city of Santiago.
This transaction is based on the N Green Mobility Project platform, a bankruptcy remote vehicle located in France and set up in 2018 by NGM as part of the financing of its activity in France. This platform has now been extended to Chile in the form of a subsidiary also structured as a bankruptcy remote vehicle. The financing is provided by CA CIB through N Green Mobility Project and passed on to the Chilean entity via an intra-group loan. The financed assets located in Chile are subject to local security package securing the financing.
NGM, created in 2017 by EDF, Mitsubishi and Caisse des Dépôts, is expanding its international development in line with its business model offering private and public customers turnkey electric mobility solutions potentially covering all types of transport (buses, trucks, scooters, etc.), by including the provision of all the equipment required (batteries, charging facilities, vehicles, etc.) in its service, as well as complete maintenance and assistance service over the life of the contract.
The Linklaters team was composed of Patrice Doat, partner, Agathe Motte, counsel, and Guillaume Malaty, managing associate, in Structured Finance. Aurore Imbabazi, Managing Associate in Capital Markets, and Delphine Monnier, associate in Corporate, also intervened on this deal.