CIC Corporate & Institutional Banking is pleased to support ELL, a leading player in locomotive leasing in Europe, in the refinancing of its senior debt labeled “green”. ELL has the youngest locomotive fleet in Europe and has delivered strong growth over the years. CIC CIB has financed ELL since its acquisition by its new owners in 2022. The 2026 refinancing marks a major step in the development of the company, as it will allow it to grow steadily both on the freight and the passenger segments in continental Europe in the coming years.
It is structured through a combination of :
- a bank loan with 7-year maturity, along with a €400M Capex facility to support its growth strategy.
- private placements issued to investors in Europe and the United States, with maturities up to 20 years.
This transaction is fully in line with the Crédit Mutuel Alliance Fédérale Group’s strategy to decarbonize and support the development of the rail sector.
About ELL
Headquartered in Vienna, Austria, ELL is a leading electric locomotive lessor that provides services to freight and passenger transportation operators across Europe. As of December 2025, ELL’s leasing platform has an owned and managed fleet of 300 Siemens Vectron locomotives.
For more information, visit www.ell-group.com
Contact - CIC CIB
Asset Finance
Olivier BROS Global Head of Green Mobility olivier.bros@cic.fr
Florence MEVEL Director Green Mobility florence.mevel@cic.fr