In a significant financial move, the Tallinn-based mobility powerhouse, Bolt, has announced a successful €220 million syndicated revolving credit facility (RCF), marking its first foray into such funding avenues. This milestone not only highlights the firm’s robust financial health but also solidifies its place as a key player in the global mobility landscape.
Founded in 2013 and headquartered in the heart of Estonia’s tech-driven capital, Bolt has rapidly emerged as a leader in shared transportation services. The recently secured funding underscores the immense confidence that major financial institutions have in Bolt’s strategic direction and growth potential.
The syndicated RCF was spearheaded by an impressive consortium of banks, including heavyweights like Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, JPMorgan, LHV Pank, and Luminor. The overwhelming interest during the syndication phase led to the upsizing and oversubscription of the facility, clearly reflecting the market’s bullish outlook on Bolt’s future.
Markus Villig, Bolt’s founder and CEO, shared his enthusiasm about this landmark achievement, stating, “Securing this revolving credit facility is a testament to Bolt’s enduring resilience and financial acumen. It’s not just a financial boost but a significant nod to our future aspirations and our readiness for upcoming ventures, including potential IPO preparations.”
The facility is poised to strengthen Bolt’s already impressive cash reserves and enhance its liquidity, providing the company with increased flexibility to pursue its strategic goals. This financial cushion is crucial as Bolt continues to innovate and expand its offerings in the competitive field of shared mobility.
Citi took the lead on coordinating the transaction and served as the Mandated Lead Arranger, ensuring a smooth process alongside legal advisories from White & Case for Bolt and Clifford Chance for the lenders. Wilmington Trust played an essential role as the Facility and Security Agent, enhancing the operational efficiency of the deal.
This financial development is a clear indicator of Bolt’s leadership and innovative edge in the shared mobility sector. It not only prepares the company for future growth challenges but also sets a solid foundation for continued expansion and technological advancements.
As Bolt strides forward, its focus remains on leveraging advanced technologies to refine and expand its services, ensuring that it stays ahead in the fast-evolving world of global mobility.
