French Rail Project Draws $267M Loan For Upgrades

Law360, New York (February 8, 2013, 7:28 PM EST) -- The European Investment Bank has inked a deal to provide a €200 million ($267 million) loan to upgrade an electrical rail system connecting France’s Rhones-Alps region and further promote sustainable transportation, the bank said Friday.

Per the deal, EIB will provide a 30-year term note at an undisclosed interest rate for Rhones-Alps’ Regional Transport Express, which is also known as TER. France intends to use the funds to finance the purchase of about 40 new electric rail cars, according to a statement.

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