SNCF €750 million syndicated financing

Overview:

• Akiem Holding, the rental subsidiary of France's national state-owned railway company SNCF, has been extended a loan facility of €750 million by a syndicate of banks.
• The loan will partly finance the procurement of new locomotive assets, and partly refinance existing indebtedness relating to previously purchased locomotives.
• The transaction follows the acquisition by Deutsche Asset & Wealth Management of a 50% stake in Akiem from Ermewa Group, its holding company. 
• The banking syndicate was comprised of  ABN Amro Bank, Crédit Agricole, Crédit Industriel et Commercial, HSH Nordbank, ING Bank, IPEX Bank and La Banque Postale Crédit Entreprises.

John Crabb - Journalist