Overview
(September 11, 2024, New York) – Steptoe LLP represented leading independent specialist infrastructure credit fund manager Vantage Infrastructure (Vantage), in its structuring and establishment of a new $85 million credit facility for a newly-formed special purpose vehicle (SPV) affiliate of FlashParking (Flash), an industry-leading provider of end-to-end parking technology including electric vehicle (EV) charging station infrastructure. Evercore Inc. served as Flash’s exclusive financial advisor on the financing.
The Vantage credit facility will help finance the accelerated expansion of Flash’s contracted portfolio and support its growth in new technology offerings including EV charging infrastructure and other advanced parking technologies offered by Flash.
The Steptoe deal team is led by partner Phil Corsello and of counsel Bradford McCormick, and included associates Sabina Jacobs Margot and Tim Yoo. Assistance was also provided by partners Vishal Gupta, Lauren Azebu, Alexandra Scheibe, of counsel Nicholas Palatucci, associates Alex Ahkar, Irene He, and senior paralegal specialist Siobhan Smith.
About Steptoe
In more than 110 years of practice, Steptoe has earned an international reputation for vigorous representation of clients before governmental agencies, successful advocacy in litigation and arbitration, and creative and practical advice in structuring business transactions. Steptoe has more than 500 lawyers and other professional staff across offices in Beijing, Brussels, Chicago, Hong Kong, Houston, London, Los Angeles, New York, San Francisco, and Washington. For more information, visit www.steptoe.com.
