Last Updated January 25, 2008
Sole mandated lead arranger Deutsche Bank has arranged a dual-tranche 292.1mn financing package in support of Russian Railways. The facility is to refinance the designing, construction and delivery of eight high-speed railway trains to be supplied by Siemens.
The deal consists of a 13.5-year 249.8mn loan with insurance cover provided by the German export credit agency Euler Hermes. There is also a seven-year 42.3mn complementary loan facility.
The ECA-backed tranche will refinance up to 85% of the supplies and services being provided under the Siemens contract, as well as up to 100% of the Hermes insurance premium. The smaller tranche will be used to refinance a 15% down-payment under the Siemens contract.
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