Our value proposition for railways

  • 1 Attractive Pricing

    As a high credit quality supranational issuer, we achieve very attractive funding conditions, which we pass on to our clients. We can provide short term bridge financing as well as long term financing up to 30 years.

  • 2 Customized Lending

    We can provide funds on short notice (as short as 2 days) and provide tailored solutions to our shareholders’ needs. We provide bullet or amortizing loans, with no minimum or maximum amounts within the approved borrowing limit.

  • 3 Sustainability

    Sustainability is at the core of EUROFIMA’s public mission. We support the UN Goals for sustainable development (Goals 9 and 11), the EU environmental objective 1 on climate change mitigation as well as the EU Green Deal targeting zero greenhouse gas emissions. EUROFIMA is the only climate aligned supranational issuer.

  • 4 Membership Model

    Investment in EUROFIMA’s equity generates a stable stream of income (dividends plus share price appreciation). Over the last 20 years, the shares’ book value increased with a CAGR of 2.5%. A participation of 2% entitles to participate in the Board of Directors, which allows to actively influence the company's strategy.

  • 5 Service Excellence

    We provide lean loan documentation in a fast and effective way. We have been true experts for more than 65 years in financing passenger rolling stock under a public service contract. We also help our shareholders structure their complex financings.

  • 6 ESG Ranking

    Sustainalytics has rated EUROFIMA No. 4 out of a universe of over 14’000 companies and No. 3 out of our industry group of 1’000 banks, with an ESG risk of “negligible”.

4 steps to become a shareholder

FEATURED PROJECTS

Our Work in Europe

30.06.2021

Switzerland

Financed amount € 300,000,000

30.06.2021

Luxembourg

Financed amount € 24,000,000

19.04.2021

Italy

Financed amount € 250,000,000

27.07.2020

Italy

Financed amount € 240,000,000

12.06.2020

Denmark

Financed amount € 80,000,000

MORE PROJECTS

Making an
impact

+

3000

LOANS

+

200

.000

ROLLING STOCK FINANCED

AA

S&P RATING(stable)

90

 billion

FINANCED IN CHF

0

LOAN LOSSES

Aa2

Moody’s Rating(stable)

4

.8

LEVERAGE RATING

41

.3%

BASEL III RATIO

AA

Fitch rating(stable)

Approval Process

EUROFIMA’s core activity and public mission consist of supporting the development of rail transportation in Europe by providing its shareholders, 25 national railway operators, and other railway bodies with cost-effective financing to renew and modernize their railway equipment. The eligibility criteria and general procedures for granting this support are outlined in EUROFIMA’s constitutive documents (Basic Agreement, Convention, Statutes) as well as in its Internal Policy Guide.

The conservative lending policy paired with the various layers of support granted in the constitutive documents result in a high-quality and resilient loan portfolio, which has never suffered a loss in the entire history of EUROFIMA.

Requests for financing from railway operators are evaluated through a thorough approval process consisting of three phases:

INTERNAL DUE DILIGENCE

EUROFIMA’s internal teams appraise the economic, financial, legal and technical aspects of each railway project and evaluate any potential risk related to it. Particular emphasis is put on the technical and economic evaluation of the rolling stock which collateralizes the requested financing. If necessary, external consultants are involved to support the internal due diligence.

APPROVAL FROM GOVERNING BODIES

The General Assembly sets the amounts which can be borrowed and subsequently used for lending purposes. The Board of Directors approves the financing requests

MONITORING

Upon conclusion of the financing, EUROFIMA monitors the implementation of the railway project, the status of rolling stock collateral and any systemic risk that may deteriorate its position as lender.

FAQ

  • What is EUROFIMA?

    EUROFIMA European Company for the Financing of Railroad Rolling Stock is a supranational organization located in Basel, Switzerland. It was established in 1956 based on an international treaty signed by 25 European sovereign States so far.

  • Who are EUROFIMA's Member States?
    • Germany
    • France
    • Italy
    • Belgium
    • Netherlands
    • Spain
    • Switzerland
    • Luxembourg
    • Portugal
    • Austria
    • Greece
    • Sweden
    • Serbia
    • Czech Republic
    • Croatia
    • Hungary
    • Bosnia and Herzegovina
    • Slovakia
    • Slovenia
    • Bulgaria
    • North Macedonia
    • Montenegro
    • Turkey
    • Denmark
    • Norway
  • Who are EUROFIMA's shareholders?

    Deutsche Bahn AG
    SNCF Mobilités
    Ferrovie dello Stato Italiane S.p.A.
    SNCB
    NV Nederlandse Spoorwegen
    RENFE Operadora
    Swiss Federal Railways
    Luxembourg National Railways
    CP-Comboios de Portugal, E.P.E.
    ÖBB-Holding AG
    Hellenic Railways
    Näringsdepartementet, Sweden
    Akcionarsko društvo Železnice Srbije
    České dráhy, a.s.
    HŽ Putnički prijevoz d.o.o.
    Hungarian State Railways Ltd.
    Javno preduzeće Željeznice Federacije
    Bosna i Hercegovina d.o.o.
    Železničná spoločnost’ Slovensko, a.s.
    Slovenske železnice d.o.o.
    Holding BalgarskiDarzhavni Zheleznitsi EAD
    Javno pretprijatie Makedonski Železnici-Infrastruktura
    Željeznički Prevoz Crne Gore AD
    TCDD Taşımacılık A.Ş.
    Železnici na Republika Severna Makedonija Transport AD - Skopje
    Danish State Railways
    Norwegian State Railways

  • Who does Eurofima finance?

    Eurofima finances railroad rolling stock for public passenger transport services. For Eurofima rolling stock means wagons, locomotives and multiple units. Eurofima supports its shareholder railways as well as other railway bodies in renewing and modernizing their equipment.

  • Is EUROFIMA a bank?

    Eurofima is not a bank. It is a supranational organization that fulfils a non-profit maximizing mission to support the development of rail transportation in Europe.

  • I would like to have more information about EUROFIMA, who can I contact?

    Dr. Jacqueline Haverals
    Head of Business Development
    Tel: +41 61 287 33 57
    E-mail: jacqueline.haverals@eurofima.org

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