KfW IPEX-Bank and SSB cooperate in financing light rail vehicles

KfW IPEX-Bank is providing Stuttgarter Straßenbahnen AG (SSB) with a loan of EUR 84 million. The contract was signed today at the SSB Centre. SSB is using the loan as a contribution to financing 30 S-DT8.17 light rail vehicles. These 30 light rail vehicles will include both replacements and new procurements for SSB’s light rail vehicle fleet. SSB is implementing the procurement of the S-DT8.17 vehicles as a contractual option following the current S-DT-8.16 light rail vehicle project with the manufacturer Stadler Deutschland GmbH. The SSB Supervisory Board approved the financing and procurement of the additional 30 vehicles. The cost forecasts for an S-DT8.17 series light rail vehicle are around EUR 6 million.

KfW IPEX-Bank and SSB are deepening their cooperation with the signed financing. SSB was supported by HKCF Corporate Finance GmbH in structuring and securing the loan. KfW IPEX-Bank has already granted a loan to SSB to finance 40 S-ST8.16 series vehicles.

“We are delighted to once again be able to support our customer SSB and thus contribute to reliable and sustainable mobility in Stuttgart,” says Aida Welker, Member of the Management Board of KfW IPEX-Bank. “An attractive public transport offer is an essential component for a successful mobility transition in Germany and the decarbonisation of the transport sector.”

“The procurement of the two S-DT8.16 and S-DT8.17 series is one of the largest individual investments in the history of SSB. With KfW IPEX-Bank, we have a reliable partner with whom we can jointly finance the mobility transition in Stuttgart and the region and thus continue to drive it forward," states Mathias Hueske, CFO of SSB. “We are very pleased with the support from KfW IPEX-Bank, which enables SSB to implement the necessary measures to upgrade its light rail fleet," underlined Thomas Moser, Technical Director of SSB.