KfW IPEX-Bank, ABN AMRO Bank, Crédit Agricole Corporate & Investment Bank and ING Bank are the four banks that decided to support Railpool with a grant of EUR 150 million to acquire new locomotives. The term of the financing is 7 years.
“We are very pleased with this financing that we have successfully implemented together with our long-standing partners. It enables us to grow further and to expand our vehicle portfolio,” Ingo Wurzer, CFO of the Railpool Group said.
While KfW IPEX-Bank is acting as Global Coordinator and Mandated Lead Arranger, ABN AMRO Bank, Crédit Agricole Corporate & Investment Bank and ING Bank are acting as Lead Arrangers in this transaction.
“With this financing we are highlighting our position as one of the leading banks for rail transport projects in Europe. For us, the financing represents another milestone in our support of Railpool’s growth process which began twelve years ago when the company was established with our involvement,” said Andreas Ufer, member of the KfW IPEX-Bank Management Board responsible for the transaction.
The European rolling stock leasing company will use these funds to purchase which will be added to the existing 400 electric locomotives that needed an investment of more than EUR 1 billion.
In 2019, Railpool extended its financing and secured an additional funding of EUR 800 million for the acquisition of 30 new locomotives, of which 10 Vectron locomotives manufactured by Siemens Mobility and 20 Traxx electric locomotives.
In December 2020, Bombardier Transportation announced the delivery of the 200th Traxx locomotive to Railpool which has ordered 232 Traxx locomotives.
In addition, the leasing company and Bombardier signed in December a contract to upgrade 73 Traxx MS2 locomotives with the European Train Control System (ETCS) Baseline 3.
In November, the company has started its operations by establishing Railpool Italia, signing an agreement to lease six Bombardier E494 with Last Mile function to Captrain Italia. The contract has an option for two additional locomotives.