VTG raises €746 million as a part of its capital restructuring
04.11.2020
VTG raises €746 million as a part of its capital restructuring
Wagon leasing group VTG has raised €746m through the issuing of climate bonds on the US and European capital markets, as railway magazine «Railway Supply» informs referring Railway Gazette
The placement forms part of VTG’s far-reaching process to consolidate its debt capital structure, following a €2,9bn refinancing deal in May.
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The company’s first green private placements were certified as sustainable in accordance with the Climate Bonds Initiative, as VTG’s core business of leasing wagons and organising rail freight transport helps to reduce CO2 emissions compared to other modes of transport.
The bonds have maturities of 12, 15 and 20 years to provide long-term planning security, while the coupon rates of less than 2% are similar if not better than those achievable before the coronavirus pandemic, helping to further reduce the company’s cost of financing. Standard & Poor’s has assigned the bonds a BBB rating with a stable outlook.
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01.12.2020 20:27
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