E-Buses Chile

in implementation

The project consists of the financing of the purchase, supply, and maintenance of 992 electric buses (or “E-buses”) bySuministradora de Buses K Cuatro SpA(the “SPV” or the “Company”) for use in the Red Metropolitana de Movilidad (the “RED”), Santiago’s Public transport system (the “Project”). The E-buses will operate under a 14-year bus supply contract awarded as part of the ongoing fleet renewal and expansion tender carried out by the Ministry of Transport and Telecommunications of Chile (the “MTT”).The total Project cost is estimated at US$396 million (excluding VAT), which will be financed through a long-term structure composed of: (a) an IDB Invest senior loan for an aggregate amount of up to US$120 million and (b) parallel senior loans of up to US$183 million, which are expected to beUnidades de Fomento(“UF”)-linked loans. The rest of the Project’s costs will be funded through equity and subordinated debt contributions from the Sponsors.The Company is owned by Inversiones Kaufmann S.A., a subsidiary of Grupo Kaufmann, and Enel X Chile, a subsidiary of Enel Chile S.A. Each currently own 50% of the Company.This Project represents a relevant milestone in Chile’s Public transport system, since the country will have the largest E-buses urban fleet in the world outside of China.