Synerail finalises the refinancing of its senior debt
Synerail, company which VINCI Railways (VINCI Concessions) owns 70% of the shares and SFR 30%, and holder of the partnership contract for GSM-R, the global mobile telecommunications system dedicated to the railway world and compatible with European inter-operability standards, a partnership signed with SNCF Réseau, finalised on 15 May 2020 the refinancing of its senior debt for an amount of 53 million of euros.
This transaction was carried out with a group of three commercial banks, Crédit Agricole Corporate and Investment Bank, Sumitomo Mitsui Banking Corporation Europe and Intesa San Paolo – Banca IMI, while maintaining the loans granted by the European Investment Bank and Caisse des Dépôts under unchanged conditions.
This refinancing enabled Synerail to optimise its financing plan, as well as its treasury management, over the remaining term of the partnership contract and in the common interest of Synerail and SNCF Réseau.
Synerail was advised on this operation by the financial consultancy firm Eight Advisory, and White & Case, a legal consultancy firm. Allen & Overy advised the commercial banks and De Pardieu Brocas Maffei advised the European Investment Bank and the Caisse des Dépôts.
The success of this refinancing is a sign of confidence in Synerail’s public-private partnership model, which contributes alongside SNCF Réseau to the modernisation of the French railway system. It was made possible thanks to the involvement of all stakeholders, both public and private, and in particular the support of SNCF Réseau, Synerail’s public partner.
