VTG has closed a EUR 340m seven-year promotional loan under Germany’s KfW programme 269 to finance new freight wagons. The syndicated facility was arranged by KfW IPEX-Bank and signed with four of VTG’s core banking partners.
According to KfW IPEX-Bank, this is the first time the programme has been used as a syndicated financing for a German, internationally active company in the rail transport sector. The loan forms part of VTG’s existing financing platform.
KfW IPEX-Bank acted as sole mandated lead arranger and bookrunner, as well as facility agent for the consortium. Participating banks include ABN AMRO Bank, Bayerische Landesbank, Rabobank and DZ BANK.
VTG will use the funds to acquire new freight wagons for deployment in Germany and other European markets. The portfolio includes tank wagons, open and covered wagons, and intermodal wagons.
