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CAF News
CAF SIGNS A 107.9 MILLION EUR GREEN GUARANTEE FACILITY FOR THE SUPPLY OF ELECTRIC TRAINS IN FRANCE
CAF, the Spanish multinational leader in the design and implementation of comprehensive mobility systems, has recently entrusted Société Générale to act as fronting and issuing bank of a 107,9 million green guarantee facility to be utilized for the supply of electric trains in the scope of an interurban passenger rail transport project with zero direct emissions.
Société Générale has structured a 107,9 million Eur green trade finance facility for CAF, to issue advance payment bonds covered by CESCE, the Spanish Export Credit Agency (ECA), regarding their contract with SNCF Voyageurs for the supply of 28 train units for the Paris - Toulouse and Paris - Clermont-Ferrand axes and with an optional range of 75 train units. The trains will be 100% electrical and are intended to be progressively effective starting from 2024.This project is financed by the Direction Générale des Infrastructures, des Transports et de la Mer (DGITM), from the French Ministry of the Ecological Transition.
CAF is a global rail equipment leader that operates in more than 40 countries offering one of the most comprehensive and flexible arrays of produces in railway related markets, such as rolling stock, components, infrastructure, signaling and services. This contract is a further step in the company’s commitment towards a sustainable energy transition.
“One of CAF’s core objectives is to create sustainable transport systems. The company provides new technological solutions to offer more efficient, eco-friendly means of transport”, explains the company.
“We are proud to support CAF with this green bonding facility to reinforce sustainable mobility. Société Générale is committed to play a key role in the energy transition by supporting its clients in positive impact projects”, explain Laetitia Rodríguez, Banker at Société Générale.
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