Founded in 2008, Akiem is a key company in the European market of locomotive leasing with a fleet of over 750 locomotives. They provide turnkey solutions to rail operators, manufacturers and regional passenger transport authorities, organised in three business units: 1) Locomotive Leasing which provides flexibility to rail operators by supplying solutions tailored to their specific needs in terms of traction units and interoperability; 2) Maintenance and Services, which guarantees the correct operation and reliability of locomotive fleets, ensuring the safety, performance and reliability of rail operations, and 3) Passenger Trains Leasing, with Akiem supporting regional passenger transport authorities and rail operators to construct new services that connect regions to each other by providing financing for rolling stock.

Over the past few years, Akiem has invested heavily into its electric locomotives fleet to help the rail industry address the climate challenge. Recently, they signed a strategic contract with ODEG, one of Germany's main regional rail operators. This contract covers the acquisition and leasing to ODEG of a fleet of 14 Stadler Akku Flirt 3L battery-powered electric trains, replacing a fleet of diesel trains. The choice of these battery-electric trains is in line with Germany's decarbonisation ambition, which aims to replace diesel by 2030.

The NatWest deal team worked closely with Akiem and other stakeholders to structure a suitable financing package which includes a term loan of c.€82m. As part of a four-bank consortium, NatWest Bank Europe took a 20% hold across the total facilities while also acting as interest rate hedging counterparty for the transaction.

Renato Delussu, CFO, Akiem, commented: “This project clearly demonstrates Akiem’s ambition to finance and deliver modern passenger trains that will achieve significant reduction in emissions in Europe. We thank our group of lenders for supporting us in this important milestone. This is a key step in our strategy to invest and grow in the European passenger train leasing market.”

Oliver Kelly, Structured Asset Finance, NatWest Bank Europe GmbH, said: “We’re delighted to help Akiem with the funding of 14 new electric trains, with transport emissions reduction a key factor for successfully tackling climate change. Supporting this transaction, which marked our first German rail financing, also demonstrates our commitment to help companies and organisations transitioning to net-zero by lending £100bn in climate and sustainable funding and financing by the end of 2025. Furthermore, this deal exemplifies our One Bank approach, with specialist teams working closely together to deliver the best outcome for our customer.”