Ebusco restructures loans
By Luke Willetts - 2nd August 2025
Netherlands - Dutch electric bus manufacturer Ebusco Holding NV has restructured EUR 12.8 million in loans originally held by ING and Rabobank. These debts have been assumed by CVI Investments and Kabuto Technology, under terms that allow for a potential debt-for-equity swap. A further EUR 22 million in shareholder loans from February 2025 may also be converted to equity, pending approval at an Extraordinary General Meeting in August.
The refinancing is a key step in Ebusco’s shift from an in-house OEM to an outsourced Original Equipment Design (OED) model. Interim CEO Michel van Maanen said the deal allows the company to “focus fully” on delivering vehicles and executing its turnaround plan. The restructuring also gives access to a new EUR 9 million working capital facility and extended payment terms from Chinese suppliers.
