OK Mobility has formalised the refinancing of approximately €300 million of bank debt, strengthening its structure and financing capacity and extending its debt maturity profile through to 2033. Added to the transaction is €130 million in additional financing through an agreement entered into with funds managed by Cheyne Capital, aimed at supporting fleet renewal.
The transaction has been unanimously agreed by a pool of 10 financial institutions led by Santander, CaixaBank and BBVA, and includes the reorganisation of the debt, incorporating renewal mechanisms of up to four years for the majority of the financing.
Joaquim Monclús, Chief Corporate Officer of OK Mobility, stated: “We appreciate the trust and support of all the financial institutions that have accompanied OK Mobility. This transaction provides us with greater medium- and long-term financial visibility, while giving us greater flexibility to continuously renew our fleet.”
The additional financing has been structured through an Asset-Backed Loan facility, intended for fleet acquisitions.
In this regard, Othman Ktiri, Founder and Executive Chairman of OK Mobility, emphasized: “OK Mobility Finance team has done an outstanding job. While there is still work ahead, we are taking another step forward in the execution of our OK Forward strategic plan. The addition of this financing diversifies our funding sources, complementing the existing ones, and strengthens our fleet renewal capacity, one of the pillars of our business model.”
Through these transactions, OK Mobility consolidates a financial structure aligned with the execution of its strategic plan, built around levers such as the consolidation of its own operations in strategic Southern European markets, the expansion through franchising, organisational optimisation and the acceleration of digital transformation.
