Release date: 31 May 2023
Promoter – Financial Intermediary
SOCIETE NATIONALE SNCF SALocation
Description
The operation will finance SNCF SA green investments in its green bond framework.
Objectives
The operation consists in the purchase of hybrid and/or senior green bonds issued by SNCF, the proceeds of which will primarily finance new or existing electric railway infrastructure investments and electric rolling stock.
Sector(s)
- Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 300 million
Total cost (Approximate amount)
EUR 600 million
Environmental aspects
Some of the projects underlying the operation might fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU, amending 2011/92/EU, requiring the competent authorities to determine whether an EIA is required. The EIB will assess the capacity of thepPromoter to ensure the projects compliance with the sector relevant national and European environmental and biodiversity regulations based mostly on publicly available information. Environmental and social due diligence will focus on the capacity of the promoter to identify, assess, manage and monitor environmental, climate and social impacts and risks, and to ensure that underlying schemes comply with national and EU legislation. Due to the nature of capital market transactions, if this due diligence can only be based on publicly available information, and it is not possible to ensure compliance with EIB Environmental and Social Standards, the EIB will request the Board to derogate to those standards.
Procurement
The EIB will require the promoter to ensure that contracts for implementation of the project have been tendered in accordance with the applicable EU procurement legislation, Directive 2014/23/EU / 2014/24/EU / 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/EEC] as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Status
Approved - 4/09/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).