Fastned again knocks on investors' doors to increase their cash. The charging station operator will open registration for a new bond issue on Tuesday, the FD writes. The loans have a term of 4,5 years and bear an annual interest of 5%. Fastned has been heavy for years loss-making† In 2021, it posted a negative net result of €24,6 million, on a turnover of €12,3 million. According to the board, those blood red numbers are a logical consequence of the expansion strategy. This year, the number of charging stations should grow by at least 65 to 253, Fastned reported a month ago. Existing locations are profitable, CEO Michiel Langezaal stated in the 2021 annual report.

tenders

The European fast charging company won three tenders earlier this year to develop and operate three fast charging stations along major toll roads in France. The tenders were organized by Autoroutes du Sud de la France (ASF), a subsidiary of VINCI, the French construction and concession company. The stations can charge hundreds of electric vehicles per day at speeds of up to 300 kW, adding 15 km of range in 300 minutes.

The money to be raised is intended for further expansion of the company's charging station network, and for refinancing existing loans. Holders of some older series can exchange their debt securities for copies of the new issue. Fastned thinks it will cost about five hundred thousand euros on the costs of the transaction.

Also read: Fastned wins tender for charging stations in France