#Finland #Helsinki #Castlelake #Santander #GoByBike

CastleLake and Santander Provide Financing for GoByBike

In a significant move to support bicycle leasing initiatives, Castlelake, a prominent global alternative investment manager specializing in asset-backed private credit, has announced a €125 million financing facility aimed at bolstering GoByBike—an innovative company based in Finland that focuses on leasing bicycles to small and medium-sized enterprises, public authorities, and corporations partaking in employee bicycle benefit programs.

Castlelake’s Partner, Alexander Curcio, expressed the firm's enthusiasm about this creative capital solution, stating, "We are pleased to provide GoByBike with a creative capital solution that showcases Castlelake's ongoing commitment as a source of private credit in the European markets. Our extensive European tenure and specialized asset investing expertise position us well to continue offering lucrative asset-based investment opportunities to global investors."

The financing will allow GoByBike to streamline its capital structure while further expanding its business operations in response to the constant demand for its services. The partnership with Santander CIB, which provided senior financing in the deal, enables GoByBike to enhance its capacity and broaden its offering of benefit bicycles to Finnish employers and employees in need.

GoByBike's CEO, Tommi Ylönen, commented, "This agreement, crafted with Castlelake and Santander, is tailored to our requirements and significantly enhances our ability to provide benefit bicycles. The collaboration with institutional investors has enabled us to access innovative solutions not typically available from smaller, local lenders."

Castlelake has a well-established presence in the asset-based financing landscape across Europe, having engaged in these opportunities since 2006. With over €7.2 billion invested and more than 8,000 assets acquired or financed in 18 European countries, Castlelake has built a robust reputation in providing valuable credit solutions. Their portfolio includes notable recent projects such as a strategic partnership for €1 billion in Nordic real estate financing, a mortgage-secured loan for a UK hospitality group, and a forward flow agreement for the acquisition of over €3 billion in consumer loans.

As a global investment manager, Castlelake, L.P. specializes in asset-based investments and manages an impressive portfolio of approximately $25 billion on behalf of a diverse range of global investors. Founded in 2005, the firm employs a robust team of over 220 professionals, including 80 dedicated investment specialists, operating from seven offices across North America, Europe, and Asia.

In sum, this substantial financing agreement not only highlights Castlelake and Santander’s commitment to enhancing the infrastructure and availability of bicycle leasing services in Finland but also showcases how innovative investment solutions can facilitate the development of modern employee benefit programs. With a strong collaboration between institutional investors and the emerging needs of businesses, the bicycle leasing market is poised for significant growth, demonstrating a growing trend towards sustainable transportation solutions.

For further information on CastleLake, visit www.castlelake.com.

Media Contacts:

• - Molly Blemker, CastleLake Media Relations, Tel: (612) 851-3083, Email: [email protected]
• - Josh Clarkson/Remy Marin, Prosek Partners for Castlelake, Tel: (212) 279-3115, Email: [email protected], [email protected], [email protected]