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Faraday Future Completes Bridge Financing to Push Forward Production of Its All-electric FF 91 Luxury Vehicle

  • Amended Bridge Financing Includes up to $45 Million in New Senior Secured Financing

  • Birch Lake Fund Management LP, Which Led Senior Bridge Financing Facility in 2019, Returns to Support Faraday Future

 

Faraday Future (FF), a California-based global shared intelligent mobility ecosystem company, today announced that it has completed the expansion and extension of the senior bridge financing facility put in place in 2019 to support the completion and launch of its flagship FF 91 EV and continue development of the mass-market FF 81. The amended bridge facility includes new senior secured financing of up to $45 million, which matures in October 2021.

As part of the expanded and extended financing agreement, Birch Lake, a Chicago-based merchant bank, has returned to support FF as the majority purchaser of the new senior secured financing. The principals of Birch Lake and co-investor, ATW Partners, a New York-based private equity firm, bring extensive experience

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Exclusive: HSBC targets net zero emissions by 2050, earmarks $1 trillion green financing

LONDON (Reuters) – HSBC HSBA.L will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients make the transition, its Chief Executive Noel Quinn told Reuters.

FILE PHOTO: HSBC logo is seen on a branch bank in the financial district in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid

In the strongest statement by Europe’s biggest bank on climate change to date, its CEO outlined HSBC’s ambitions to align its activities with the Paris Agreement.

“COVID has been a wake-up call to us all, including me personally, we have seen how fragile the global economy is to a major event, in this case a health event, and it brings home the reality of what a major climate event could do,” Quinn told Reuters in a video interview.

HSBC aims to achieve net

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