TOUAX

Successful asset refinancing in the Rail division for 180 million euros

PRESS RELEASE                                                                                                          Paris, December 18, 2020 – 8.45 a.m.

YOUR OPERATIONAL LEASING SOLUTION FOR SUSTAINABLE TRANSPORTATION

Successful asset refinancing in the Rail division

for 180 million euros

- A Green Loan of 120 million euros

- A revolving credit facility of 60 million euros

Touax announces the refinancing of its Railcar division for a total of EUR 180 million combining a 5-year green loan in euros and pounds sterling for an amount equivalent to 120 million euros equivalent and a Revolving Credit Facility (RCF) of 3 years with a 2-year term loan conversion option for an amount equivalent to 60 million euros, in euros and pounds sterling for a part.

This transaction ensures the refinancing of the existing asset portfolio as well as the financing of future investments. It comes after Touax Rail Limited's capital increase last September with DIF Capital Partners and will support the development of its long-term freight railcar leasing business in Europe.

The arranger banks are Credit Agricole CIB (Documentation Agent), Landesbank Hessen-Theringen Girozentrale (Facility Agent and Security Trustee) and ING bank (Green Advisor).

Touax was advised by Stephenson Harwood and McCann Fitzgerald and lenders by Clifford Chance.

“We are very pleased with this financing, which has decreased overall costs, and which marks our commitment to the development of environmentally friendly transport activities. The "Green Loan" label was obtained as all the railcars we lease comply with the emission threshold of 40g CO2 e/tkm. This transaction will increase our market presence and competitiveness and is also the first financial transaction carried out jointly with our partner DIF." Fabrice and Raphael Walewski, managing partners.