Commentary & Deal Flow

Launched: 20yr: €500m @ MS+67bp - Orderbook in excess of €2.1bn (excl JLM interest)
Guidance: 20yr: MS+70a

• Issuer: EUROFIMA The European Company for Financing of Railroad Rolling Stock
• LEI: 4S66HJ5RNB5ZWG9YW219
• Credit Rating: Aa2/AA/AA (Moody's/S&P/Fitch)
• ESG Rating: Sustainalytics 4.6 (negligible risk), ISS ESG B- (Prime), MSCI ESG rating AAA
• LGX Issuer Status: 100% Climate-Aligned Issuer
• Format: Reg S Bearer
• Size: €500m
• Launch: Spread set at MS+67bps
• Coupon: Fixed, Annual, ACT/ACT, Long 1st coupon
• Maturity: 16-Apr-46
• Settlement: 15-Apr-26 (T+5)
• ISIN: XS3337381399
• Common Code: 333738139
• Governing Law: English Law
• Listing: Luxembourg Green Exchange (LGX)
• Denominations: 100k+1k
• Target Market: The manufacturer target markets (MIFID II/UK MiFIR product governance) as assessed by the lead managers are eligible counterparties and professional (all distribution channels).
• Docs: Issuer’s Debt Issuance Programme
• Leads: ABN AMRO, Barclays, Credit Agricole CIB, DZ BANK, UBS
• Schedule: Books to close 10.00 LDN / 11.00 CET. Allocations and pricing will follow.
• UoP: The proceeds of the bonds will be utilised for lending to railways to invest in green passenger transport according to EUROFIMA’s Green Bond Framework, which has received a Second-Party Opinion from S&P
• Link to investor presentation: https://www.eurofima.org/sites/default/assets/File/investor-relations/InvestorPresentation/Investor%20presentation%20September%202021/EUROFIMA%20-%20Invest%20in%20Sustainable%20Mobility%20-%20Feb%202026%20-%20Slide%20Deck.pdf
• Link to Green Bond Framework: https://www.eurofima.org/sites/default/assets/File/investor-relations/green-bonds/250512-EUROFIMA-GreenBondFramework%202025.pdf
• Link to Second Party Opinion: https://www.eurofima.org/sites/default/assets/File/investor-relations/green-bonds/EUROFIMA_Green%20UOP%20SPO%20Report_12MAY2025_Shades-Alignment.pdf