Paris team advises Société Générale on landmark SEK 1.2 billion structured green bus financing
Global | Press release - Business | December 2020
Global law firm Norton Rose Fulbright has advised Société Générale on the first structured green bus financing for Transdev.
In March 2019, Transdev won five 10-year contracts to operate bus services from December 2020 in Gothenburg, Sweden’s second largest city. The commissioning of the green bus fleet, running exclusively on electricity from renewable energies or on biofuels, supports the city of Gothenburg in reaching its goal of turning all city transport to electric by 2030.
This achievement is a significant milestone and commitment by Transdev on its journey to reducing carbon emissions across its fleets and it represents one of the first structured finance green bus transactions in Europe. The SEK 1.2 billion financing (circa 147 million euros) facilitates the acquisition of 297 electric and biofuel buses being leased to Transdev for its use on five concessions in Gothenburg starting from December 2020.
Norton Rose Fulbright’s Paris banking and finance team advised Société Générale and MUFG Bank, Ltd acting as co-arrangers, lenders, hedge counterparty and joint green structuring advisor to Transdev. Société Generale also acted as Lease Arranger, Agent and VAT Facility Provider.
Christine Ezcutari, who heads Norton Rose Fulbright’s banking and finance team in Paris, led the team on this transaction. She was assisted by counsel Véronique Bruel, and associates Alexis Babin de Lignac and Lorraine Viard.
Law firm Hammarskiöld & Co. AB advised the two Co-Arrangers and the Lessor on the transaction. KPMG AB assisted the lenders with regard to value-added tax matters in Sweden.
For further information please contact:
Carole Guettier, Senior business development manager
Tel: +33 1 56 59 52 75;
Charles Billiard, Communication Executive
Tel: +33 1 56 59 52 96;