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Investing for a safer, more reliable, higher performance network

Railway modernisation: focus on the future

The rail sector is constantly adopting new technologies to enable more trains to be worked more efficiently on its lines. To cater to today’s consumer practices, SNCF Réseau is adapting its strategic targets to include a number of digital innovations. New issues are emerging in addition to time-honoured safety, security and reliability considerations. These societal, environmental, commercial or energy-related factors are mainly the result of the open competition advocated by the French government and by Europe 

Financial strategy

Key figures and indicators 2017

For SNCF Réseau to balance its budget, it needs to be able to count on the support of investors and subsidies from the State.

Vignette Vignette

Green Bonds, supporting the ecological transition

World’s first Green Bond-issuing Infrastructure Manager

SNCF Réseau prides itself on being a financially responsible player.

Green Bond is a multifaceted programme, which:

  • promotes environmentally-friendly, safe and fast modes
  • supports virtuous cycles by selecting projects with the potential to drive down greenhouse gas emissions, save natural resources and protect biodiversity
  • is conducive to socially responsible investment and consistent with official French COP 21 targets.

€900 million raised in October 2016 via a Green Bond issue

€1 billion raised in 2017 with the second public benchmark Green Bond issue

€750 million raised with the third and longest public benchmark Green Bond issue 

8.8 million tonnes of CO2 equivalent not discharged into the atmosphere thanks to the funds raised under Green Bond programmes in 2016 and 2017. This may be likened to the effects of the carbon footprint of some 18,000 French citizens over a period of 40 years


« We are proud to work with you on the conditions for responsible network modernisation.” » 

Patrick Jeantet, SNCF Réseau Chairman & CEO


Background and regulations

Background, legal context and credit rating agency

Our history: key dates

1 January 1938 (31 August 1937 Agreement)

foundation of the Société Nationale des Chemins de fer Français (French National Railway Company), a semi-public company under private law.

1 January 1983

SNCF is given the status of a Public Industrial & Commercial Establishment (EPIC).

1 January 1997

creation of a new EPIC, Réseau Ferré de France, to own and manage the national rail network with SNCF continuing to operate passenger and freight transport services and playing the role of acting infrastructure manager on behalf of RFF.

1 January 2015 (Railway Reform Act of 4 August 2014

Réseau Ferré de France is grouped together with SNCF within a single public-sector railway group comprising 3 EPIC:
– SNCF parent company, in charge of group strategy
– SNCF Mobilités, train operating company
– SNCF Réseau, owner and manager of the French rail network.

Financial publications

All SNCF Réseau financial documents are available on line: presentations, annual reports, final terms, prospectuses and supplements may be consulted and/or downloaded.

SNCF Réseau - EUR 50M 29-05-2037 T8 S115

Published on 02/18/2019, updated on 02/18/2019

Final Terms - EUR 500M 22.02.2029 T1 S137

Published on 01/29/2019, updated on 01/29/2019

Final Terms - EUR 150M 29-05-2037 T 7 S 115

Published on 10/24/2018, updated on 10/24/2018

Statutory documents, latest publications


All our reference texts and documents



The information on this website, including figures, is for information purposes only and has not been audited.

Nothing on this website constitutes, forms part of, or should be considered an offer or solicitation to buy or sell financial instruments, or constitutes an investment service.

Nothing on this website constitutes or should be considered advice regarding the subscription of financial instruments.

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