SNCF abbr.
<法>Société Nationale des Chemins de Fer法国国营铁路公司
- A consortium led by GEC Alsthom, the Anglo-French engineering group, has been awarded a Ecu660m (Pounds 528.6m) order from French Railways (SNCF) and the Paris Transport Authority to supply 70 double-decker trains, GEC Alsthom said yesterday.
- But for users of the SNCF rail network the image has been tarnished. The state-owned railway is struggling to win back passengers and freight after one of the worst years in its history.
- Maybe the answer is to sell the whole network to SNCF in return for a French promise to support London's pitch for the European central bank.
- But the SNCF issue carries a guarantee by the French republic and is slightly shorter in term.
- Ecu bond prices fell after the launch of two large 15-year Ecu bond issues - an Ecu 750m issue from the Republic of Finland with a coupon of 8 1/2 per cent and an Ecu 400m issue from SNCF of France with a coupon of 8 3/8 per cent.