Natixis CIB Supports Reliance Rail and Acts as MLA in AUD 1.8b Green Sustainability-Linked Loan
Natixis CIB’s Infrastructure & Energy Finance (IEF) team in Sydney has supported Reliance Rail and acted as MLA in its AUD 1.8 billion, 21-year Green Sustainability-Linked Loan (‘GSLL’) to fully refinance Reliance Rail’s existing bank debt facilities.
Established in 2006, Reliance Rail is a Public Private Partnership (‘PPP’) with the New South Wales Government, for the design, manufacture and maintenance of the largest single procurement of passenger trains in Australian history. Reliance Rail’s core assets are its 78 Waratah Trains, which account for roughly a third of Sydney Trains’ suburban passenger sets, and the Auburn Maintenance Centre (‘AMC’), a purpose-built facility in the west of Sydney, now used to maintain over 60% of Sydney Trains’ passenger fleet. The first Waratah train began passenger service in July 2011 and the 78th and final train entered service in May 2014.
Reliance Rail is an important contributor in the State’s transition to a low carbon future, facilitating increased use of electrified transport to reduce vehicle pollution and traffic congestion in Greater Sydney.
The Project is owned 66.67% by AMP Capital managed funds and 33.33% by International Public Partnerships (managed by Amber Infrastructure).
Natixis previously acted as MLA for Reliance Rail’s previous refinancing in 2017 and also provided CPI and IRS hedging.
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Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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