Cargounit secures a refinancing agreement to support further growth in the CEE
CARGOUNIT, the leading Central and Eastern European locomotive lessor headquartered in Poland and wholly owned by the Three Seas Initiative Investment Fund (3SIIF), has raised a EUR338m (PLN1.5bn) sustainability-linked platform financing with a group of leading European lenders.
The financing comprises senior term facilities, a 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 SA. Thanks to the new facilities, CARGOUNIT will be able to continue to deliver modern locomotives for use in the Three Seas Region.
The financing is provided by a group of nine banks and an institutional investor: 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.
CARGOUNIT is the largest Polish locomotive leasing company in the Three Seas Initiative Region and one of the largest lessors in Europe. CARGOUNIT has nearly 200 locomotives. 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. The company’s customers include major operators in a number of industrial sectors. The main target geographies of CARGOUNIT’s are Poland and the other countries of Central and Eastern Europe.
In 2020, The Three Seas Initiative Investment Fund acquired a 100% stake in CARGOUNIT.
