Filter content by area of interest
Handling Equipment/Systems
Ports & Terminals
Transport & Distribution
Materials & Commodities
ICT & Telecoms
Civil Engineering
Safety & Security
 View all Topics View all Topics A-Z
More View all Topics View all Topics A-Z

You are viewing this article with our compliments. 

register  or  login  to manage your newsletter preferences and to prevent this message from appearing.

VTG AG completes €2.9B long-term refinancing

VTG Aktiengesellschaft has successfully completed the refinancing of VTG Group’s capital structure.

Linked InTwitterFacebookeCard

The rail and logistics group said that the move has established a solid long-term basis for further investment in its business. The €2.9B refinancing includes committed credit lines to fund the continuing investment plans of VTG.


“As part of the refinancing, Standard & Poor’s assigned an investment grade BBB (outlook stable) issuer rating to VTG. This underpinned the move to a new Common Terms Debt Platform and resulted in a very positive impact on refinancing parameters, substantially lowering the overall funding costs and extending maturities to up to 10 years,” the company stated.


“VTG has now also gained access to new funding sources in the debt capital markets for this and future debt issuance, further reinforcing the resilience of its long-term capital structure.”


Dr Heiko Fischer, CEO of VTG AG, commented: “We are very proud to close this landmark financing transaction. The BBB issuer credit rating from S&P, the extension of funding tenor and the reduction of funding costs in the depths of the COVID-19 crisis are achievements that reflect VTG’s position as a leading rail infrastructure business.


“It is a strong vote of confidence in the strength, stability and reliability of the VTG business model upon which our relationships with our core banks are based. It further yet again demonstrates the professionalism and resilience of the VTG organization in these challenging times.


“This marks an important milestone in funding the long-term growth of the VTG Group and, once again, proves our ability to grow and rise to new challenges, even in times of crisis.”


The refinancing process was supported by Credit Agricole CIB and Goldman Sachs International as Joint Financial Advisers, Arrangers and Placement Agents.


Linked InTwitterFacebookeCard

You may also like these related articles...

ABB engine diagnostics for 12 bulk carriers

ERG record for iron ore shipments to China

Bedeschi finally completes Ukrainian delivery

Stunning comeback for agricultural exports

UWC inks rail car deal with chemicals firm

Small-scale CO2 capture plant on a vessel

Most Read

Mobile harbour crane business

Lumber by rail in Scotland

Ports' global footprint set to grow rapidly

ABP invests £4M in its Newport port

Double first for Liebherr in Argentina

Linked In