PARIS - Reed Smith announces today that it has advised NEoT Green Mobility (NGM) and Crédit Agricole Corporate and Investment Bank (CA CIB) on the syndication of their structured financing in the electric mobility sector, allowing NGM to welcome a new partner on board and to continue its successful development.

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Bus with zero emissions in motion on background nature

Through this transaction, NGM is doubling its financing capacity via a partnership with La Banque Postale, which joins CA CIB as a co-lender under the existing multi-currency credit facility. NGM thus achieves a further extension of its N Green Mobility Project financing platform and even anticipates its needs in the near future as the financing can be increased up to €95 million through an accordion mechanism.

N Green Mobility Project is a bankruptcy remote special purpose vehicle that NGM initiated in 2018 as part of the financing of its activity in France, and redesigned in 2021 to finance its projects in Chile, Europe and the UK.

NGM continues to grow in France and internationally in line with its business model, which consists of offering private and public customers turnkey electric mobility solutions for all types of transport (buses, trucks, scooters, etc.). The company provides all required equipment (batteries, charging infrastructure, vehicles, etc.), and complete service and maintenance coverage that remains in effect throughout the life of the contract.

This syndication allows NGM and NEoT Capital to significantly increase NGM's deployment capabilities, and improve its competitiveness and future offerings.

It also allows La Banque Postale to support "NeoT / NGM 2.0" in its future development and in this asset class, with this type of clientele and innovative business model. Finally, CA CIB remains the historical financial partner of NGM.