Medium-term financing secured by Vossloh

Published: Wed, 2015-04-29 09:21

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Loan of €250m to repaid this yea

Vossloh Group announced recently that it had secured its medium-term financing with the effective closing of a syndicated loan of over € 500m.

The facility has been provided by a banking syndicate with 11 participants. The mandated lead arrangers and book runner are Bayerische Landesbank, Commerzbank, Landesbank Baden-Württemberg and SEB.

- The refinancing marks a significant milestone for the transformation of the group into a worldwide leading rail infrastructure company’, said Chief Financial Officer Oliver Schuster.

Vossloh reached both medium-term financing security as well a maximum of flexibility. At the same time, the company has improved its interest terms.

The trust of Vossloh´s banking partners underlines, said Shuster, the company´s new strategy.

The structured facility has a term of three years starting April 23, and includes €200m available in the form of a term loan and €300m as a revolving credit line.

It will replace a bridging loan of €250m which had been borrowed in June 2014 to repay a US private placement and is timed to end in June 2015. Vossloh AG's current bilateral credit facilities will also be refinanced.

Source: Vossloh

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