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

Latham & Watkins advised on the financing that will enable VGMobility to supply a total of 935 electric buses to four third-party operators and concessionaires in both Santiago de Chile and TilTil. With the e-mobility supply awarded in its latest bid, Chile is now promoting the largest e-mobility initiative globally outside China, and the fleet to be supplied by VGMobility represents more than 80% of the total fleet awarded in the latest bid. The transaction represents VGMobility’s first project financing in Chile and builds on VGMobility’s regional growth, which also includes fleets in Colombia and Costa Rica.

The financing was arranged by Société Générale, which, together with other lenders, provided the financing and a cross-currency and interest rate hedge.

The Latham deal team was led by corporate partner Guido Liniado, with assistance from Catalina Ucros,* Giancarlo Reanda and Emiliano Flores.** 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.
**Admitted to practice in Mexico only.