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KfW IPEX-Bank key participant in EUR 2.9 billion refinancing for VTG

Press Release from 2020-05-28 / KfW IPEX-Bank

  • Largest lender in complex financing
  • MLA of international banking consortium throughout the financing term of ten years

VTG AG refinanced a significant portion of its existing capital structure. In the process, it concluded new financing agreements for around EUR 2.9 billion with an international banking consortium lead by KfW IPEX-Bank throughout the financing term of ten years. KfW IPEX-Bank is also the largest lender for this financing. Europe’s largest wagon hire and rail logistics company was thus able to lower its average interest rate and simultaneously obtain significant term extensions of up to ten years.

As part of the refinancing, VTG cooperated with a consortium made up of a number of international banks and private investors. KfW IPEX-Bank has worked together with VTG for several years and is acting as facility agent and bookrunner for the banking consortium as it did in the previous transaction from 2015 over a financing term of ten years. With its structuring expertise, KfW IPEX-Bank was able to play a major role in realising the complex financing in cooperation with further banks and investors. Moreover, it also contributed a significant volume to the transaction with an average term of 5.5 years and once again demonstrated that it is a reliable partner for its customers, even in a challenging environment.

“We are pleased that we are once again able to support our long-standing and valued business partner VTG AG as it optimises its capital structure,” said Andreas Ufer, Member of the Management Board responsible for Transport Sectors and Treasury at KfW IPEX-Bank. “Our participation in this transaction reinforces our position as one of the leading infrastructure financiers in Europe and simultaneously documents that we also assist our customers with financing in times of general uncertainty.”

“We are very proud of the conclusion of this groundbreaking financing transaction. It attests to the confidence in VTG’s business model’s strength, stability and reliability, which is what the relationships with our core banks are based upon,” said Dr Heiko Fischer, Chairman of the Executive Board at VTG AG. “We have thus reached an important milestone for financing the long-term growth of the VTG Group.”

The refinancing strengthens the capital structure of VTG and creates additional capacity for financing current investment plans.

Contact

Ms

Dela Strumpf

Phone

+49 (0) 69 7431 2984

Fax

+49 (0) 69 7431 8536

eMail

Dela.Strumpf@kfw.de
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