The bonds have a maturity of 15 years at a rate of 1.104%.
The funds raised through the issue will primarily support investment in the existing network, although it will also be used to develop new projects and strengthen SNCF Network’s sustainability strategy.
SNCF Network says it has developed a methodology to measure the impact of modernisation of the rail network in terms of CO2 emissions and the consumption of natural resources.
An annual report, certified by an external auditor, will enable green investors to monitor the usage of funds and their environmental impact. The SNCF Network green bond has also been awarded Green Bond Principles accreditation by Oekom Research and Climate Bond Initiative certification.
“The success of this initial programme confirms the level of interest among investors in companies that put sustainable development at the heart of their industrial strategy,” says SNCF Network president Mr Partick Jeantet.
SNCF says it makes €1.5-1.8bn in green bond-eligable investment each year, and therefore plans at least one green bond issue annually.