SNCF SA, the holding company of the French state-owned rail group, has issued its first unsecured green money market loan, marking a new milestone in its sustainable finance strategy. The EUR 100 million transaction was launched on 13 June 2025, with a one-month maturity, in collaboration with Dutch broker AFS Group and the Republic of Austria.
The deal positions SNCF among the first European issuers of unsecured green money market instruments, comparable to bank-issued Green Deposits. It also underscores Austria’s ongoing commitment to innovative ESG strategies and leadership in sustainable finance.
The instrument aligns with SNCF’s 100% sustainable financing strategy, in place since 2024. Following the introduction of Green Commercial Papers in 2021, this new loan further diversifies SNCF’s green funding portfolio, while continuing to support the group’s environmental objectives.
Proceeds from the loan, like those from previous Green Commercial Papers and Green Bonds, are earmarked exclusively for sustainable investments. These include railway infrastructure and rolling stock, as defined in SNCF’s Green Securities Framework.
Through this latest initiative, the group reinforces its role in sustainable finance and affirms its commitment to ecological transition. All green instruments are included in SNCF’s annual Impact and Allocation Report, ensuring transparency for investors.
SNCF SA holds a credit rating of A-1 / P-1 / F1+ (S&P / Moody’s / Fitch), and has also received strong sustainability ratings: 85/100 from Ecovadis (placing it in the top 1% of its sector) and a B rating from the Carbon Disclosure Project (CDP).
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