21 November 2019
After earlier successful bond issues, Fastned started issuing a new series of bonds today. The issue will be primarily used to finance further expansion of its fast charging network. This is necessary given the strong growth in the number of electric cars and the related demand for fast charging infrastructure. The bonds have a maturity of 5 years and pay out 6% interest per year. Subscription to the offer is possible starting at 1000 euro.
The mission of Fastned is to give freedom to the electric driver and accelerate the transition to electric mobility. Fastned has the goal to realise a European network of 1,000 fast charging stations where all electric cars can fast charge with 100% renewable electricity from the sun and wind. Fastned currently has a network of 113 stations in the Netherlands, Germany and the United Kingdom. In addition, several fast charging stations are under construction in these three countries and Fastned is preparing for the construction of the first fast charging stations in Belgium and Switzerland. With the proceeds of this issue the network can be further expanded with more stations and more and faster chargers. Due to the increasing number of electric cars, installing fast chargers is a logical and necessary step. The number of charging sessions at Fastned grew to more than 120,000 in the past quarter.
Michiel Langezaal, CEO Fastned: “The transition to electric driving is in full swing. In the third quarter of this year, around 12% of new cars sold in the Netherlands were fully electric. In 2020 we expect that many new electric cars will hit the road, such as the new Peugeot e-208, the DS3 crossback e-tense, the Polestar 2, the Volvo XC40 and the Volkswagen ID3. The question is no longer whether electric cars are the future, but where they will charge. Fastned is building fast charging infrastructure that will provide green energy to these vehicles and give them the freedom to drive anywhere.”
Investors can subscribe to the issue from today until the 12th of December 2019 via the Fastned website: fastnedcharging.com/bonds. The issue is limited to 15,000 bonds for a total of 15 million euro.
Important information and risks
Investing in Fastned bonds involves risks. Investors run the risk of losing (part of) their investment and should only invest after they have read the prospectus approved by the AFM and fully understand the potential risks and benefits of an investment in Fastned. The approval of the prospectus should not be considered a recommendation of the securities offered. The prospectus is available via the website fastnedcharging.com/bonds.