Fastned repays first bond and extends 2.5 million euro in outstanding bonds
Fastned, the European fast charging company, has repaid its first 5-year bond. The repayment was partly funded with the issuance of a new 5-year bond with a coupon rate of 4.5%. In addition, outstanding bonds maturing in 2022 have been exchanged for bonds in this new issue.
Fastned's first 5-year bond was repaid on December 2, 2021. Following the repayment investors in this loan were given the opportunity to subscribe to the new issue of bonds until December 12, 2021.
In addition, investors holding bonds maturing on June 6 and December 12, 2022 have exchanged approximately 2.5 million euro worth of bonds for bonds in the new issue. This brought the total size of the new 5-year bond to approximately 2.8 million euro.
Following this and earlier exchanges in 2020, the total repayment obligation for 2022 has been reduced from 20 million euro to 11.5 million euro.
"It’s great to see that many investors from the early days are once again participating in financing our future, and through that in the energy transition. Our strong financial position enables us to further accelerate the rollout of fast charging stations in Europe. This is crucial to get people to switch to electric cars."
More information on the outstanding bonds can be found in the annual report.
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 181 fast charging stations in the Netherlands, Germany, the United Kingdom, 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).