European Locomotive Leasing has secured EUR 1.4bn in long-term debt financing to refinance existing debt and fund its fleet expansion programme.
The financing also includes a EUR 400m sustainability-linked revolving capex facility. ELL said the structure moves away from traditional asset-backed financing and gives the company committed capital for locomotive procurement and maintenance infrastructure across its European network.
The proceeds will support further expansion of ELL’s Siemens Vectron fleet and its full-service leasing activities for freight and passenger operators. The company currently operates more than 300 locomotives and describes its portfolio as the largest Siemens Vectron electric locomotive fleet in Europe.
ELL took delivery of its 300th Vectron this week. According to the company, its fleet accounts for nearly 15% of all Vectron locomotives produced by Siemens Mobility.
ELL is owned by BNP Paribas Asset Management Alts and Crédit Agricole Assurances, which acquired the company in 2020. The lessor provides electric locomotive leasing and maintenance services to rail freight and passenger operators in European markets.
