EVgo Inc. (EVGO): debt financing — EVgo closes $225M (up to $300M) non-recourse debt facility for charging buildout

EVgo Inc.

Senior secured facility: $225M committed, $75M incremental, 5-year maturity, SOFR+3.25% (step-up to +3.50% in year 5).
First draw of ~$48M received July 24, 2025; proceeds cover 60% of eligible project costs.
Funds deployment of 1,500+ new high-power stalls; 400 existing stalls provided as initial collateral.
Largest US EV charging commercial bank facility; oversubscribed with 5 top-tier lenders.
Syndicate led by SMBC, with BMO, RBC, ING Bank, and Investec as participating lenders.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

EVgo Inc. incurred term loan of $225 million committed term loan facility with Sumitomo Mitsui Banking Corporation at Term SOFR plus 3.250% maturing July 23, 2030.

Instrument: term loan
Principal: $225 million committed term loan facility
Counterparty: Sumitomo Mitsui Banking Corporation
Rate: Term SOFR plus 3.250%
Maturity: July 23, 2030
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a term facility of up to $300 million, consisting of (i) a $225 million committed term loan facility (the “Commitments”) with a maturity date of July 23, 2030

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EVgo Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-070992

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