Bolt, the global shared mobility business founded in 2013 and headquartered in Tallinn, announces the successful closure of its inaugural €220 million syndicated revolving credit facility (RCF). The facility, initially met with robust demand, was substantially upsized during syndication and ultimately oversubscribed, underscoring the confidence of financial institutions in Bolt’s trajectory and financial strength.
Provided by a consortium of core relationship banks, including Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, JPMorgan, LHV Pank, and Luminor, this landmark financing bolsters Bolt’s already robust cash position and fortifies its liquidity profile, positioning the company for sustained growth and strategic initiatives.
Markus Villig, Founder & CEO of Bolt, said: “Our inaugural revolving credit facility represents a significant milestone for Bolt, affirming our company’s resilience, financial maturity, and promising future. We have secured highly favourable terms reflective of our solid financial footing, underscoring the confidence our banking partners place in our vision. This financing provides us with additional flexibility as we advance towards our goal of being IPO-ready.”
The €220 million facility, which remains currently undrawn, aligns with Bolt’s approach to liquidity management and is intended for general corporate purposes, enabling the company to pursue its strategic objectives with confidence and agility.
Citi acted as Coordinating Bookrunner and Mandated Lead Arranger for the transaction, while White & Case served as legal advisor to Bolt, and Clifford Chance acted as legal advisor to the lenders. Wilmington Trust assumes the crucial roles of Facility and Security agent, further enhancing the operational efficacy of the financing arrangement.
The successful execution of this syndicated revolving credit facility underscores Bolt’s position as a leader in the shared mobility sector and exemplifies the confidence of financial institutions in the company’s strategic direction and growth prospects.
In addition to this exciting financing news, we are thrilled to announce that Jevgeni Kabanov, President at Bolt will be sharing his insights and experiences, particularly focusing on “How to use AI to grow business” at the EU-Startups Summit 2024 in Malta. His session is set to provide invaluable insights for attendees looking to leverage AI in their entrepreneurial ventures.
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- Source: https://www.eu-startups.com/2024/05/tallinn-based-bolt-secures-e220-million-syndicated-revolving-credit-facility-in-debut-financing-round/
