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

Source of information: CARGOUNIT

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.

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 Łukasz Boroń 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.