ANZ backs Victoria’s green bus transition with $425m financing

The structured asset finance facility supports the rollout of 370 electric buses.

Australia and New Zealand Banking Group (ANZ) has provided a $425m structured asset finance facility to CDC Victoria to support its 10-year contract with the Victorian Government for the operation of 370 electric buses across 251 metropolitan routes, the bank said in a press release.

The contract, awarded under the Victorian Zero Emission Bus Transition Plan, will replace diesel buses with electric alternatives and cut an estimated 45,000 tonnes of carbon dioxide over the contract’s duration.

Sara McCluskey, Head of Diversified Industries at ANZ Institutional, said the transaction applied ANZ’s structured asset finance and sustainable finance capabilities to design a facility aligned with CDC Victoria’s operational requirements and the state’s electrification programme.

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