Trainline is Europe’s leading independent rail and coach travel platform, selling rail and coach tickets from over 270 carriers in more than 175 countries to millions of travellers worldwide. Through the website and app, customers can seamlessly search, book and manage their journeys all in one place.
Trainline is committed to playing a key role in supporting the rail industry, businesses and governments in meeting their emissions targets by encouraging modal shift. Rail travel generates less than 31% of the CO2 emissions of domestic air travel and approximately 24% of the CO2 emissions compared with car travel, per passenger [1].
To support its growth ambitions, Trainline asked NatWest to advise on options for a flexible funding package, with a current facility due to mature in June 2024.
As a new lender and Lead Arranger, the NatWest team worked closely with Trainline to understand their plans for the future of their business and the resulting capital requirements. Based on those discussions, a new sustainability linked £325 million multi-currency Revolving Credit Facility (RCF) was structured. The RCF has an initial maturity date of November 2025 and includes the option to extend for a further two, one-year periods.
Chris Rees, UK Financing Solutions, NatWest, commented: “We are absolutely delighted to have been able to support Trainline with a new credit facility. This transaction is another example of our commitment to supporting UK businesses and helping companies such as Trainline on their growth journey.”
[1] BEIS/Defra Greenhouse Gas Conversion Factors 2019 (Climate change: Should you fly, drive or take the train? - BBC News)
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