photo: RAILTARGET Archive/On Track to Sustainability: CARGOUNIT Lands a €338M Green Investment
CARGOUNIT, the Poland-based locomotive leasing titan, has recently announced a landmark deal signed in July 2023. This collaborative agreement with a consortium of nine prestigious banks and an institutional investor is a major stride forward in its strategy to champion sustainability. By securing €338 million in platform financing, the company is setting the stage for a greener and more efficient future. These resources will drive a variety of initiatives, including senior term facilities, a private placement loan, and revolving and capex facilities.
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This isn't just a financial win for CARGOUNIT, but a victory for the environment too. A significant chunk of the financing is earmarked as sustainability loans, dedicated to funding the acquisition of eco-friendly locomotives. These include Siemens Mobility's multi-system Vectron MS locomotives and Pesa Bydgoszcz's single-system Gama Marathon locomotives. It's clear that CARGOUNIT's commitment to greening its operations is more than just talk – it's a tangible investment.
Talking about the partnership, Łukasz Boroń, the CEO of CARGOUNIT, expressed his excitement, "This is a strong endorsement of our strategy, aimed at refreshing our fleet and fuelling ambitious growth plans in Central and Eastern Europe." Backing CARGOUNIT's vision are renowned banks like 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 has taken on the roles of Facility Agent and Security Agent.
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In navigating the financial and legal intricacies of this deal, CARGOUNIT sought the guidance of Cantor Fitzgerald Europe as an exclusive financial advisor, while Clifford Chance and Norton Rose Fulbright took care of the legal aspects. This broad-based team effort underscores the collaborative nature of the commitment to sustainability in the transportation industry.
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