Fastned raises €23 million to finance further growth
Fastned, the European fast charging company, has raised nearly €23 million with the issue of new bonds. In addition, investors have extended over €7 million worth of investments from earlier issues, bringing the total issued amount in this round to nearly €30 million. All newly issued bonds will mature in December 2026.
From 10 May to 12 June, investors could subscribe to the bonds with 5% interest and a maturity of 4.5 years. Holders of Fastned bonds bought before April 2019 could extend their investment by exchanging those bonds for bonds in the new issue. Including earlier extensions this has reduced the repayment obligation for Fastned in 2022 by nearly €10 million.
"I'm delighted to again see so much interest from investors in sustainable infrastructure. This bond issue allows us to continue to invest in the expansion of our Europe-wide network, bringing more freedom to electric drivers. Electric vehicle sales are hitting all-time highs and on top of that, EU lawmakers last week voted to support a proposed ban on the sale of new petrol and diesel cars from 2035. This will further speed up the shift to electric mobility across the continent."
Fastned has been developing fast charging infrastructure for electric vehicles across Europe since 2012. Fastned’s mission is to accelerate the transition to sustainable mobility by giving freedom to electric drivers. Based in Amsterdam, the company has built 207 fast charging stations in the Netherlands, Germany, UK, Belgium, France and Switzerland. The company specialises in developing and operating fast charging infrastructure where drivers can charge their electric vehicle with up to 300 km of range in 15 minutes before continuing their journey. Fastned is listed on Euronext Amsterdam (ticker AMS: FAST).