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.

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