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Clifford Chance advises BNP PARIBAS and Rabobank on Fastned's capital raise of 75 million euro through a private placement of depositary receipts with Schroders Capital

19 October 2022

Clifford Chance advises BNP PARIBAS and Rabobank on Fastned's capital raise of 75 million euro through a private placement of depositary receipts with Schroders Capital

International law firm Clifford Chance advised BNP PARIBAS and Coöperatieve Rabobank U.A. as Financial Advisors and Joint Global Coordinators on the EUR 75 million capital raise by Fastned B.V., the European fast-charging company, through a private placement with Schroders Capital of 2,032,520 depositary receipts representing the same number of new ordinary shares at a subscription price of EUR 36,90.

Based in Amsterdam, 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. 

Schroders Capital's commitment is an important step in Fastned's growth strategy towards 1,000 stations by 2030. In line with their long-term commitment, Schroders Capital will have the right to designate one person for appointment as supervisory board member in the supervisory board of Fastned. Fastned intends to use the proceeds of the placement to fund part of its capex plan that consists of expanding the capacity of its existing stations, accelerating the development and growth of its network of charging stations and the funding of capex for government related tenders as well as for general corporate purposes. Read more about the capital raise here.

Clifford Chance's cross-border team advising long-standing clients BNP PARIBAS and Coöperatieve Rabobank U.A. consisted of Han Teerink and Helen Liefting in Amsterdam with Alex Bafi and Olivier Plessis advising on US securities laws aspects from the Paris office.