Nordic Re-Finance expands its fleet with the acquisition of 15 electric locomotives

Nordic Re-Finance secures a €250m debt package from Natixis CIB and separately expands its fleet with the acquisition of 15 electric locomotives

STOCKHOLM, SWEDEN, January 19, 2026 /EINPresswire.com/ -- Infranity-backed Nordic Re-Finance secures a €250m debt package from
Natixis CIB and separately expands its fleet with the acquisition of 15 electric locomotives

Nordic Re-Finance, a leading Scandinavian lessor of freight locomotives backed by infrastructure investment specialist Infranity, successfully completed in December 2025 the refinancing of its entire capital structure.

Nordic Re-Finance secured a multicurrency €250 million debt package fully underwritten by Natixis CIB, comprising a green term loan designed to accelerate its electrification roadmap and fuel its expansion into new European markets in line with Infranity’s acquisition plan completed in March 2025.

This strategic refinancing illustrates the attractiveness of Nordic Re-Finance’s market positioning and business model and the trust of Natixis CIB in the company’s capacity to further develop low-carbon rail freight transportation solutions for existing and new clients across Europe.

Additionally, Nordic Re-Finance has reached an agreement with DB Cargo Scandinavia to acquire 15 high-quality TRAXX AC2 electric locomotives, including a partial sale-and-leaseback arrangement for operations in Sweden, Denmark and Germany. This new partnership marks a major milestone for Nordic Re-Finance’s strategic expansion into Germany and establishes a new relationship with one of Europe’s leading rail operators. It strengthens Nordic Re-Finance’s position as a top European rolling stock company and reflects the company’s commitment to its long-term growth plan.

Magnus Granlund, Chief Financial Officer at Nordic Re-Finance: “Completing this refinancing gives Nordic Re-Finance the financial flexibility to expand and modernize our fleet and accelerate our growth towards electrification. This successful transaction confirms the attractiveness of our business model to new banking partners. It is also a reflection of the collective effort of our team, shareholders and advisers.”

Thorsten Priebe, Chief Executive Officer at Nordic Re-Finance: “We are pleased to start a strategic partnership with DB Cargo Scandinavia as we expand operations into Germany. These high‑quality, electric mid‑life locomotives fit our strategy to deliver best‑in‑class leasing solutions for European rail freight customers, and their acquisition marks a new step in our ambition to become a major player in Europe.”

Romain Le Melinaidre, Executive Director, Equity Investments at Infranity: “Securing an agile financing was identified as a key priority when we invested in the company, to deliver on expansion opportunities such as this sale-and-lease-back transaction with a top-tier European operator like DB Cargo Scandinavia. We are enthusiastic about entering into long term partnerships with both DB Cargo Scandinavia and Natixis CIB and look forward to further developing Nordic Re-Finance as a leading locomotive lessor in Europe.”

Nordic Re-Finance was advised by Virellian Partners (financing), Watson Farley & Williams and Vinge (legal), Apex Rail and PMP (commercial), Eight Advisory (financial), Ipex (technical) and Marsh (insurance).
Natixis CIB acted as sole Underwriter and sole Sustainability Coordinator, and was advised by Gibson Dunn and Snellman (legal).

About Nordic Re-Finance
Founded in 2006, Nordic Re-Finance is the leading Scandinavian lessor of locomotives, with a fleet of c.200 units and a strong presence in the Nordics as well as Switzerland, Poland, and Hungary. Over the past 15 years, Nordic Re-Finance has grown considerably and assembled the largest fleet of highly reliable and price competitive mid-life locomotives. The mission of Nordic Re-Finance is to enable and support the development of rail freight transportation in the context of growing international and national trade volumes, and the need to shift to more efficient and less carbon-intensive modes of transportation. In this respect, Nordic Re-Finance is committed to achieving environmental objectives, by extending the useful life of high-quality machines and equipment and helping its customers transition towards more environmental-friendly fleets, with an increasing portion of electric locomotives in its leasing portfolio.

For more information: https://nordicrefinance.se/
Press contacts
Thorsten Priebe, Chief Executive Officer
thorsten@nordicrefinance.se

About Infranity
Infranity is an asset management company specializing in sustainable infrastructure investments. The company was founded by three partners, Philippe Benaroya, Alban de La Selle and Gilles Lengaigne, as part of a strategic partnership with the Generali Group and manages c.€13.1 billion of assets under management on behalf of institutional investors as of December 2025. The investment solutions deployed by Infranity are based on the resilience of the asset class and its historical returns over the long term, as well as its ability to contribute to sustainable development. They seek to respond to the major challenges facing society, such as the energy transition, green mobility, the digital transition and the improvement of social infrastructure in the health and education sectors.
This positioning, combined with a high degree of selectivity in the investment process, enables Infranity to generate sustainable value for its clients.

Infranity is part of the Generali Investments’ ecosystem of asset management firms, and a key component of Generali’s capabilities in real assets.
For more information: www.infranity.com
Our sustainability commitments are available on our website.

Press contacts
Infranity, Investor Relations Team
Caroline Kragerud Nicolas Moriceau
M: +33 6 88 10 92 48 M: +33 6 82 14 67 36
caroline.kragerud@infranity.com Nicolas.moriceau@infranity.com

Kekst CNC
Infranity@kekstcnc.com

Thorsten Priebe
Nordic Re-Finance AB
+46722361091 ext.
email us here
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