Task definition

  • Placement of EUR 1.2 billion in financing
  • Repayment of existing financing of the acquisition target
  • Integration into the collateral pool and the existing intercreditor agreement

Industry / Function / Environment/ Expert

  • Europäischer Marktführer in der Vermietung von Eisenbahngüter- und Tankwagen, Schienen- und Tankcontainerlogistik
  • Head of Financing & Treasury
  • Björn Gresens

Situation

  • Necessary refinancing and early repayment of financing
  • Securing an extensive liquidity line
  • Necessary adjustment of the covenants, the intercreditor agreement and the existing collateralisation
  • High leverage, no external rating

Measures to be taken

  • Planning of financing requirements and preparation of a business case
  • Structuring and preparation of a term sheet
  • Bank meeting and invitation to financing
  • Roadshow and adjustment process with existing investors
  • Coordination of early repayment
  • Selection of agent and lead manager for the placement

  • Oversubscription and placement of a EUR 1.2 billion financing with terms of 5 and 7 years
  • Extensive liquidity line to cover future investments
  • Significant reduction in interest costs
  • Approval of the necessary adjustments by existing investors
  • Revision of the financial covenants
  • Repayment of all of the target’s financing
  • Reorganisation of the banking syndicate
  • Creation of a standardised financing platform with collateral pool

  • European market leader in the rental of rail freight and tank wagons, rail and tank container logistics
  • Customer portfolio: Railways, rail logistics companies, chemicals and petrochemicals
  • Product portfolio: Hire of tank and tank wagons, intermodal wagons, bulk goods wagons, rail logistics, tank container logistics
Bankfachwirt Björn Gresens

Partner

 +49 40 8000 845 92 gresens@fup-ag.com
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