SNCF Group has announced the issuance of a GBP 300 million green bond.
Issued through SNCF SA, the holding company, this 30-year green bond will mature on October 29, 2055, with a fixed coupon of 5.875%. The proceeds will be used to finance rail infrastructure investments, supporting the transition to low-carbon mobility.
This marks SNCF’s first financing operation with this maturity in GBP since 2012. The bond was met with strong investor demand, attracting an order book of GBP 1.275 billion—more than four times the issuance size—and involving 55 investors. This high demand allowed SNCF to reduce its financing rate by 7 basis points.
Beyond SNCF, no non-UK SSA (Sovereigns, Supranationals, and Agencies) issuer had launched a transaction with a maturity exceeding 10 years in over three years. The bond was primarily placed with institutional investors, including asset managers, insurance companies, and pension funds in the UK, helping SNCF diversify its investor base.
The transaction was led by Barclays, NatWest Markets, and the Royal Bank of Canada.
Since 2016, SNCF Group has pursued a sustainable financing strategy, which has led to the full greening of its bond issuances since 2024. This GBP 300 million issuance is fully aligned with this sustainability approach and reflects the group’s ambition to contribute to reducing greenhouse gas emissions in the transport sector. This type of financing enables the company to raise funds while meeting the strict environmental criteria set by international green bond standards. Through this issuance, SNCF strengthens its ability to finance low-carbon infrastructure projects, which are essential for supporting the railway sector’s energy transition.
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