Latham & Watkins Represents VGMobility, a Vitol Company, in an E-Mobility Project Financing

Latham & Watkins advised on the financing which supports an innovative commercial arrangement that will allow VGMobility to renew certain existing third-party concessions fleets by replacing them with electric buses over time. This arrangement will allow VGMobility to introduce more than 1,000 new electric buses and related charging infrastructure in Bogota in the coming years. The transaction builds upon VGMobility’s prior transactions comprising both self-owned and third-party concessions as it continues to grow its business in Colombia pursuant to Vitol’s worldwide strategy to provide tailor-made green mobility solutions in select markets.

This financing includes a feature designed to allow VGMobility to add new third-party fleet-based projects to the financing structure.

This financing was arranged and provided by Société Générale, which also provided a cross-currency and interest rate hedge.

The Latham deal team was led by corporate partner Guido Liniado, with assistance from Catalina Ucros.* Advice was also provided on hedging matters by partner Carlos Alvarez, with associate Jackie Rugart; and on tax matters by partner Elena Romanova.

*Admitted to practice in Colombia only