CARGOUNIT secures PLN 1.5 bn financing platform to support further growth in CEE

In July 2023, CARGOUNIT, the leading Central and Eastern European locomotive lessor?headquartered in Poland signed a refinancing agreement of its existing facilities with a group of leading Polish and Western European lenders.

The new PLN 1.5bn (EUR 338m) platform financing consists of senior term facilities, Private Placement loan, 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 S.A. .

A group of nine banks and one institutional investor will provide financing for the company: 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.?

“We are pleased to announce the signing of a new sustainability-linked financing platform with leading European lenders involved in financing of rolling stock. This is a sign of confidence in our strategy articulated around our fleet rejuvenation programme and our ambitious growth plans in Central and Eastern Europe.” – says Lukasz Boron CEO of CARGOUNIT.

Cantor Fitzgerald Europe acted as the company's exclusive financial advisor in connection with the financing.?Legal advice on the transaction was provided by the law firms Clifford Chance and Norton Rose Fulbright .?

CARGOUNIT is the largest Polish locomotive leasing company in Central and Eastern Europe and one of the largest lessors in Europe. CARGOUNIT has nearly 200 locomotives for rent, both traction and shunting. It offers a wide range of rolling stock, including modern multi-system locomotives for international traffic. CARGOUNIT also has electric multiple units for passenger transport. Currently, the company is focusing on modernising its fleet by purchasing modern single-system and multi-system locomotives for international traffic. For 20 years CARGOUNIT has been cooperating with the largest national and international railway operators in the Polish market. Rental services offered by the company are used, among others, by carriers from the fuel, chemical, building materials and intermodal cargo and products for the automotive sector. The main target geographies of CARGOUNIT's development are Poland and the other countries of Central and Eastern Europe. In 2020, 100% stake in CARGOUNIT was acquired by the Three Seas Investment Initiative Fund (3 Seas IIF), advised by Amber Infrastructure Group.?

PKO Bank Polski , DWS Group , ING Polska , Siemens Financial Services , Bank Pekao S.A. , 荷兰銀行 , 法国兴业银行 , Erste Group , La Banque Postale Bank Ochrony ?rodowiska S.A.