November 03, 2016

Touax secures loan for wagon purchase

Written by  Quintus Vosman
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Touax secures loan for wagon purchase Quintus Vosman

TX Rail Finance 4, a Dublin-based single-purpose company owned by wagon leasing company Touax Rail, has secured a €54m loan from DVB Bank and KfW Ipex to finance the acquisition of 1335 freight wagons.

Each bank is providing half of the funds for the transaction, which is composed of two facilities: a 5.5-year loan and a VAT facility worth more than €18m. DVB Bank has acted as both agent and lender, while KfW IPEX Bank has operated exclusively as a lender.

Luxembourg-based investment fund Touax Investments SCA will provide equity for the transaction.

Another Touax Group subsidiary, Touax Rail, will be responsible for managing the wagons as part of its lease portfolio.

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