Gogoro, a global technology provider of battery swapping ecosystems that enable sustainable mobility solutions for cities, signed a NT$10.7 billion ($337 million) five-year credit facility agreement, with a two-year extension option, with a group of 10 syndicated banks.
Led by Mega International Commercial Bank, as the sole mandated lead arranger and bookrunner, the facility consists of two term loans and one revolving facility that will be used to pay off a current outstanding credit facility, purchase energy cells, support working capital and facilitate Gogoro Network operations in Taiwan. Provided Gogoro continues to meet carbon reduction contribution goals, a rate discount is applied. This highlights Mega Bank and other syndicated loan participants’ focus on ESG, and Gogoro’s ESG contribution.
“Today we signed a new $345 million syndicated loan that further strengthens our capital structure and cash reserves, and increases our liquidity, enabling us to deploy our business plans more efficiently,” Bruce Aitken, chief financial officer of Gogoro, said. “The fact that we were able to raise our borrowing capacity and secure favorable terms and borrowing rates in today’s credit-cautious environment is validation from our banking partners that they understand and support Gogoro’s vision, and our ability to execute.”
