08-09-2022

Crédit Agricole CIB

Credit Agricole CIB and La Banque Postale provide a multi-currency financing structure to NEoT Green Mobility to the value of up to EUR 95 million

NEoT Green Mobility (NGM), a leader in the financing of green mobility assets, has set up a multi-currency financing structure of up to EUR 95 million equivalent, to accelerate its development in France and Europe.

Credit Agricole CIB and La Banque Postale provide a multi-currency financing structure to NEoT Green Mobility to the value of up to EUR 95 million

Crédit Agricole CIB acted as arranger of the transaction and participated in the structured financing, alongside La Banque Postale as co-lender for the existing multi-currency credit facility. This transaction is in line with Crédit Agricole Group’s Societal Project, and its commitment to accelerate the financing of low-carbon energies and increase their share in the overall energy mix.

With this transaction NGM has increased its financing capacity, securing its financing needs for the next two years.

Following its EUR 80 million fundraising at the end of 2021 with lead investors 3i and Mirova, as well as historical shareholders EDF Pulse Croissance and Banque des Territoires, NGM confirms its strong growth objectives in Europe – and in particular in the United Kingdom – with a target of EUR 400 million assets under management by 2025.

The additional funding enables NGM to further develop its services and solutions offering private companies and public entities turnkey solutions to finance their transition to zero-emission mobility.

The company’s E-Mobility-as-a-Service solutions include the financing and supply of batteries, vehicle fleets or charging solutions for sectors including urban and inter-urban public transport, logistics, shipping, inland navigation, rail and charging solutions. The company is also exploring existing hydrogen-based solutions.

NGM and Crédit Agricole CIB were assisted by Reedsmith as legal counsel for the transaction.

Philippe Ringenbach, CEO of NEoT Capital, commented:

“This new transaction allows NEoT Green Mobility and NEoT Capital to significantly increase NGM’s deployment capacity in Europe. We are very pleased to pursue this long term adventure with CACIB, our historic partner, and to welcome La Banque Postale as a new partner. This transaction confirms NGM’s unique positioning in the energy transition sector, and more specifically in zero-emission mobility.”

Laurent Haik, Co-Head of Auto and Operating Assets Securitisation within Crédit Agricole CIB’s securitisation department:

“This agreement stands out as one of the few landmark structured finance transactions in the electric mobility sector. We are very pleased to see NGM’s growth take shape with its range of new deployment projects. We have now been able to anchor NGM’s financing in the market and set it on a path to growth.”

Agnès Pelhate, Head of Asset Finance at La Banque Postale CIB, said:

La Banque Postale is very pleased to be able to support NEoT Green Mobility in this new phase of its development, in France and in Europe. This transaction is in line with La Banque Postale’s strategy, a major player in impact finance and one of the first financiers of the environmental transition and soft mobility.”

NEoT Capital is a company dedicated to supporting the energy transition to zero-emission mobility and low-carbon energy. Founded by leading industrialists, NEoT creates and manages investment platforms that finance the deployment of zero-emission equipment based on innovative energy storage solutions. NEoT brings together leading investors who will invest in these assets, carry them, and make them available to local authorities or operators as global services. Thanks to NEoT's technical and financial expertise, these services include not only financing but also support in the management and development of the equipment. NEoT has already deployed two platforms: NEoT Green Mobility with 3i, Mirova, Banque des Territoires and EDF Pulse Croissance to finance zero-emission mobility in Europe, and NEoT Off Grid Africa with Meridiam, and EDF Pulse Croissance to finance decentralized and renewable energy production solutions in Africa.

NEoT Green Mobility (NGM) is an investment platform dedicated to finance the Zero-Emission mobility, created to support public authorities, transport operators, and logistics and industrial companies in their energy transition, in Europe. As of today, NGM, managed by NEoT Capital, has more than €70m assets under management, representing more than 250 vehicles and batteries, and more than 3000 installed charging points.

Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 10th largest banking group worldwide in terms of balance sheet size (The Banker, July 2022). More than 8,900 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.

For more information, please visit www.ca-cib.com

With its subsidiaries, including CNP Assurances, La Banque Postale is a leading European banking and insurance specialist, ranked 11th in the euro zone by balance sheet assets. Its diversified business model enables it to support 20 million individual and corporate customers with a comprehensive range of products accessible to all. A subsidiary of Le Groupe La Poste, La Banque Postale offers local banking services through 17,000 contact points, including 7,300 post offices, throughout France. It is also a leader in sustainable finance, rated among the best in the market by non-financial rating agencies. Its strategic plan, “La Banque Postale 2030”, sets the ambition of becoming the favourite bank of the people of France, with an integrated and omnichannel offer of bank and insurance services based on three distinct brands: La Banque Postale, its everyday bank, Ma French Bank, its 100% mobile bank and BPE, its private bank. As a community bank, La Banque Postale is fully focused on shaping a just transition to an economy and a society capable of responding to environmental, social, regional and digital challenges.

Reed Smith is a dynamic international law firm with 1,800 lawyers in 30 offices in the United States, Europe, the Middle East and Asia. Established in Paris since 2005, Reed Smith now has 80 lawyers, including 22 partners. The Office Managing Partner is Natasha Tardif.

For more information, please visit the www.reedsmith.com website or the LinkedIn page of Reed Smith Paris.

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