HSH Nordbank refinances for AAE large fleet of railway carriages

Finance, Logistics — By on December 4, 2012 at 10:32 AM

HAMBURG/KIEL HSH Nordbank is providing AAE Ahaus Alstätter Eisenbahn AG, a long standing client, with a major part of a refinancing. With these funds the Swiss company operates a fleet of 4, 830 freight carriages, which serve as the principal collateral for the financiers. In total, the transaction on behalf of the European market leader in leasing intermodal railway carriages amounts to EUR 290 million. As arrangers, HSH Nordbank and KfW IPEX-Bank GmbH share a tranche in the amount of EUR 110 million. The finance deal has a term of six years. A further tranche with a term of up to ten years is being provided by Pricoa (Prudential Financial) and the Otto Beisheim Foundation.

“This refinancing is of interest to HSH Nordbank for two reasons: in the first place, the average age of the fleet is very young and, secondly, as a provider of railway finance for many years we are widening our collaboration with third-party investors in infrastructure. Such investors are prepared to put sizeable amounts into this sector on a long term basis, ” says Dr. Marcus Kleiner, Head of Origination Infrastructure & Rail at HSH Nordbank.

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