eeef invested in project bonds to support the green transportation initiative for the Cities of Paris, Lyon and Bordeaux
Paris - The French company Bolloré, providing the Autolib’ car-sharing service for electric cars in Paris, signed a bond subscription agreement for floating rate notes worth € 30m with the European Energy Efficiency Fund (EEEF). The bond has a maturity of 5 years and was issued by Bolloré, purchased by the EEEF.
EEEF’s investment will be used to finance electric cars and needed infrastructure (i.e. charging stations, rental places etc.) used in Bolloré’s European electric car rental concession Autolib’, which the company won via a public tender. This transaction is within the framework of an urban transportation initiative for the Cities of Paris, Lyon and Bordeaux.
Starting off in Paris, the City was furnished with environmentally friendly electric cars with the support of the City Council. After the trail period and an established track record, Lyon and Bordeaux are the next cities Bolloré has been targeting for the initiative. The funds from EEEF’s bond will be used mainly to expand further to Lyon and Bordeaux.
The City of Paris is paving the way for other cities to follow their example of an environmentally friendly car sharing scheme to combat climate change and contribute to the use of new innovative technologies.
The European Energy Efficiency Fund (EEEF) S.A., SICAV-SIF is a “société d’investissement à capital variable” governed by Luxembourg law and was initiated by the European Commission in cooperation with the European Investment Bank. The initial capitalization provided by the European Commission was increased with contributions from the sponsors European Investment Bank, Cassa Depositi e Prestiti as well as the Investment manager Deutsche Bank.