European Locomotive Leasing (ELL) concluded a financing round of EUR 250 million to support the acquisition of Siemens Vectron locomotives. The financing is in the form of a 7-year senior secured CAPEX revolving credit facility.
ELL will thus further secure its leading market position as owner of the largest Vectron fleet. 12 banks are now involved in the financing of ELL. With this round, two more were added to the existing banking club.
ELL now has twelve banks participating in its financing. With this round, two additional banks were welcomed into the existing banking syndicate.
The financing will support the further growth of ELL’s fleet, which will grow to over 300 Siemens Vectron locomotives.
“The issue was oversubscribed four times, although only a limited number of banks were invited to participate. This confirms investors’ confidence in ELL’s robust business model. We have succeeded in delivering an outstanding performance in a challenging environment!” the CEO of ELL, Christian Kern, said.
In December 2023, European Locomotive Leasing signed a framework agreement for up to 200 additional Siemens Vectron locomotives with a firm order for 60 units to be successively delivered from 2025.
With this order, European Locomotive Leasing will own a Vectron locomotive fleet of 301 units by 2027 and will become the largest European company to operate Vectron fleet. Over the medium term, the new agreement offers ELL the possibility of increasing its Vectron fleet to over 400 locomotives.
Vectron is a state-of-the-art and modular platform for locomotives with a wide range of tasks. ELL relies exclusively on Vectron, because this specialisation guarantees our customers the highest quality of service.
The majority of company’s locomotives are multisystem-capable, operating on both direct current (DC) and alternating current (AC). For special applications, we also have Dual Mode systems that can be operated both electrically and with diesel.
All ELL locomotives are characterised by maximum energy efficiency, making them economical and environmentally friendly.
The modular construction also ensures the necessary flexibility in the used train safety systems. In addition to ETCS, the locomotives can be equipped with all the necessary national standards and are therefore ready for any cross-border operation.
ELL was founded in 2014 with offices in Vienna and Munich and has developed into a major provider of leasing and services for electric locomotives throughout continental Europe.
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