Driving development for Swedish EV retailer Polestar

Polestar is one of the leading sellers of high-performance electric vehicles, with the car maker headquartered in Sweden, and an affiliate of Volvo Cars and Geely Holding Group, China’s leading automaker.

Standard Chartered was the global coordinator, joint mandated lead arranger and joint green loan lead coordinator in the successful closing of a USD950 million syndicated green loan facility for Polestar Automotive Holdings UK PLC (Polestar).

In addition to its lead role, Standard Chartered was also bookrunner, facility agent, security agent and account bank for the landmark transaction.

The proceeds of the loan will cover a large majority of Polestar’s estimated financing need for the next stage of its development, as it brings three electric vehicles to the market during 2024 and 2025.