Saturday, July 20, 2024
HomeFinancePolish CARGOUNIT raises 338 million euros in 'sustainability-linked' loans

Polish CARGOUNIT raises 338 million euros in ‘sustainability-linked’ loans

CARGOUNIT, a Poland-based locomotive lessor wholly owned by the Three Seas Initiative Investment Fund (3SIIF), has raised a 338 million euro “sustainability-linked” platform financing with a group of European lenders (16 August).

The financing comprises senior term facilities, a private placement loan, and revolving and capex facilities. The structure includes sustainability-linked loans to fund the purchase of environmentally friendly locomotives, including multi-system Vectron MS locomotives from Siemens Mobility and single-system Gama Marathon locomotives from PESA Bydgoszcz.

The financing is provided by a group of nine banks and an institutional investor: PKO Bank Polski, DWS, ING Bank, Siemens Bank, Bank Pekao, ABN AMRO, Societe Generale, Erste Group Bank AG, La Banque Postale and BOS Bank. Bank Pekao acts as the facility agent and security agent, CARGOUNIT confirmed in a press release.

CARGOUNIT is the largest Polish locomotive leasing company in the Three Seas Initiative and one of the largest lessors in Europe, with nearly 200 locomotives.

The company is currently “focusing” on modernising its fleet by purchasing modern single-system and multi-system locomotives for international traffic, CARGOUNIT said in a press release.

In 2020, the Three Seas Initiative Investment Fund acquired a 100 per cent stake in CARGOUNIT.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular