Successful signing of a €1,200M financing package<br> for Akiem Group

Successful signing of a €1,200M financing package
for Akiem Group

On 5th August 2019, Akiem Group signed a € 1,200M financing package to refinance itscurrent debt and support its future growth.

Since 2008, Akiem Group has grown to become the leading locomotive leasing company in continental Europe. This successful transaction will increase and diversify Akiem’s debt maturity and fuel its continuous development in rolling stock leasing and related service activities.

The company achieved the diversification of its financing sources and extension of the maturities through the issuance of €360m of 10 and 15-year Green Private Placements and €360m of 7-year term bank debt. The company also secured a €400m CapEx facility to finance its medium-term growth plan. The financing was provided by a pool of 11 leading European Banks and 7 European and American Investors. Akiem Group was advised by Crédit Agricole CIB as debt advisor, green structuring bank and placement agent for the refinancing.

The banks are: ABN Amro Bank, BNP Paribas, Crédit Agricole CIB, CaixaBank, Crédit Industriel et Commercial, ING Bank, KfW IPEX Bank, La Banque Postale, Landesbank Hessen-Thüringen Girozentrale, SEB Skandinaviska Enskilda Banken, and Société Générale.

Crédit Agricole CIB acted as facility agent and security agent, ING as hedge coordinator.

Akiem was advised by Clifford Chance (Paris) LLP and the lenders were advised by Latham & Watkins (London) LLP.

The project has been managed by the Akiem Group Finance team led by Renato De Lussu, Chief Financial Officer; Stefan Gout, Head of Treasury and Financing; and Clemence Dubois, Head of Legal.

The trust and commitment of our tier 1 financial partners from Europe and North America is a reward for the dynamism and resilience of the business model we have developed over the last 10 years. We are pleased with the financial terms of this transaction as well as its fast implementation. We are proud to have issued Green notes, with external certification from Climate Bond Initiative, demonstrating Akiem’s active role in and commitment to the transition to a low-carbon economy. This financing platform creates a long-term base that will provide the means to develop our Group, finance our ambitious growth plan, and strengthen our leasing and service offering for the benefit of our customers throughout Europe.

Fabien Rochefort, Akiem Group’s CEO

About Green Notes

Transportation represents one of the sectors where investments requirements are the largest in order to reduce greenhouse gas emissions. Therefore, this green financing exclusively dedicated to electric locomotives demonstrates the active role played by the rail sector and by Akiem Group in particular in the transition to a low-carbon economy. The environmental benefits of this transaction were confirmed by a second opinion by Sustainalytics and an external certification by Climate Bond Initiative.

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