10.12.2019
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Millennium Leasing will grant a lease facility to PKP CARGO
In result of a tender process Millennium Leasing and PKP CARGO S.A. signed an agreement on a lease facility in the total amount of PLN 150.000.000,00 net. The money shall be used to finance the purchase of railway rolling stock, machines and technical infrastructure equipment, vehicles as well as other items agreed between the parties. The facility shall be available for 12 months with extension option.
- As regards management of external sources of funding, PKP CARGO S.A. seeks the most effective solutions, which may be used i.a. in the process of implementing the Company’s capital expenditure plan – Leszek Borowiec, Member of the Management Board for Financial Affairs of PKP CARGO S.A., said - The framework agreement negotiated with Millennium Leasing Sp. z o.o. gives us the opportunity to flexibly fund fixed assets. At the same time conclusion of the agreement is a step in diversification of sources of financing available to PKP CARGO S.A. Under this agreement i.a. the purchase will be financed of 6 electric 6-axle locomotives delivered by the consortium of NEWAG S.A. and NEWAG LEASE sp. z o.o. s. k-a.
- Millennium Leasing has been financing railway CAPEX since 20 years. The assets we are financing include more than 30 locomotives and over 7900 railcars with total initial value exceeding 300 mln PLN - Marcin Balicki, Chairman of the Management Board of Millennium Leasing, said. - We are glad to have become an important part of the CAPEX plan of PKP CARGO by signing another contract in this sector.
PKP CARGO S.A. is the largest railway cargo carrier in Poland and a leading operator in the European Union. As a Group it offers integrated logistics services, combining railway (the biggest rolling stock fleet in Poland), road and maritime transport. They offer idependent cargo transport for several thousand clients in Poland and Czechia, Slovakia, Germany, Austria, Netherlands, Hungary, Lithuania and Slovenia.
For years Millennium Leasing has been offering lease finance for all sectors in Poland. The Company is an active member of Polish Leasing Association, involved particularly in the establishment of the ZPL Digitalisation Group and one of the first lease companies to have appeared on the Polish market. Lease services are being sold by lease advisers in 70 branches throughout Poland. Sales activity is also carried out in active cooperation with relationship managers, in retail branches and corporate units of Bank Millennium.