COFIDES has participated in a syndicated loan led by Santander Corporate in order to support the international growth of Cooltra, a leading company in sustainable mobility on two wheels in Europe.
This is a syndicated loan amounting to 18 million euros in order to expand Cooltra's electric vehicle fleet and strengthen its position on foreign markets through its international expansion plan. The contribution made by COFIDES amounts to 4 million euros, charged to the Fund for Foreign Investment (FIEX). In addition to Banco Santander and COFIDES, the Institut Català de Finances, Deutsche Bank, Bankinter, and Arquia have also taken part. This financing is considered a green loan as it is intended to promote environmental sustainability.
This transaction will benefit from the COFIDES Impact programme, through which COFIDES supports investment projects that bring about a positive impact towards the achievement of the SDGs. Thanks to this programme, financial incentives are provided through the sustainability variable to help lower the cost of financing, linking said cost to the achievement of certain sustainability indicators. In this case, the incentives are linked to the company's carbon footprint.
The corporate head of the COFIDES Investment Division, Miguel Ángel Ladero, pointed out that "COFIDES is characterised by its ability to adapt to the needs of its clients and support projects like Cooltra's with a clear environmental impact and a markedly sustainable nature”.
Francesc Madurell, Chief Financial Officer of Cooltra, remarked, "This transaction will allow us to advance our expansion and internationalisation plans by consolidating our leading position in sustainable mobility on two wheels in Europe through an increase in our electric fleet, in our investment in technology, in the development of new services, and in the opening of new markets”.
ABOUT COOLTRA GROUP
Cooltra is a company that was established in 2006 in Barcelona with the aim of offering a sustainable mobility service on two wheels to tourists and residents. In just a few years, Cooltra underwent significant expansion, going from renting just 50 motorcycles in a single office in Barcelona to having a fleet of 20,000 vehicles (85% of which are electric), more than 100 rental points in Europe, and a staff of 400 workers. Services such as rental to companies and fleet management for companies and governmental agencies have now been added to the company's traditional short- and long-term motorcycle rental services. In addition, Cooltra is the company behind the first electric motorcycle sharing initiative at the European level, with a presence in 9 cities.
ABOUT COFIDES
COFIDES is a state-owned company engaging in the management of State and third-party as well as its own funds, pursues a number of aims: internationalisation of Spain’s economy, furtherance of economic development and fortification of the solvency of companies affected by COVID-19. In addition to the Spanish State, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).
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