Allens has advised Zenobē Australia on the portfolio financing of its EV fleet electrification platform across Australia and New Zealand.
The financing is structured on core+ and project finance principles, and provides a scalable funding platform to support Zenobē's continued growth in the region.
Allens acted for the borrower on Australian law aspects of the transaction and worked closely with New Zealand counsel, Anderson Lloyd, to deliver a coordinated cross-border financing solution.
'This financing demonstrates the increasing sophistication of capital structures that support transport electrification,' said lead partner and Head of Project Finance, Michael Ryan.
'As fleet operators accelerate their decarbonisation strategies, platform financing solutions are becoming increasingly important in providing the scale and flexibility required to fund long-term infrastructure investment.'
'We are seeing growing demand for portfolio and platform financing structures across the transport and energy transition sectors, with lenders continuing to show strong appetite for established decarbonisation platforms.'
The advice builds on Allens’ extensive work on portfolio financings in the sector. The firm has previously advised on a number of landmark portfolio financings in the energy transition market, including for ACEN Australia, CPERI, Foresight, FRV, GPG, Neoen and Potentia Energy, enabling capital to be deployed efficiently across diversified asset portfolios to accelerate decarbonisation.
Allens legal team
Michael Ryan (Partner), David Donnelly (Partner), Tristan Kelly (Managing Associate), Ben van Weel (Managing Associate), Naomi Lee (Senior Associate), Miles Sandston (Associate), Julia Arrighi (Associate), Michael Doan (Lawyer), Liz Wong (Law Graduate)