TOUAX Group refinanced €55 million Senior Secured Rail Facility
June 29 2015 - 12:31PM
PRESS RELEASE - Paris, 29 June 2015 -
6.30 p.m.
TOUAX
YOUR OPERATIONAL
LEASING SOLUTION
TOUAX Group
refinanced €55 million Senior Secured Rail Facility
TOUAX Group is delighted to
announce that TOUAX Rail Limited a wholly owned Irish subsidiary of
the TOUAX Group completed the refinancing of a €55 million
syndicated Senior Secured Credit Facility (the "Facility"). The
Facility was provided to one of Touax Rail Limited's majority owned
subsidiaries.
The term of the €55 million
Facility is 5 years including scheduled amortization. Proceeds of
the Facility are used to refinance an existing fleet of
approximately 930 wagons managed by Touax Rail Limited.
The Facility is non-recourse to
TOUAX Group and is attractively priced with a spread of 2% over
Euribor, in line with the Group's expectations. To reduce interest
rate risk, 90% of the Facility is hedged with an interest rate swap
for the term of the Facility.
The Facility was provided by a
syndicate of three industry banks of which ING Commercial Banking
acted as agent, hedge-provider, mandated arranger and senior
lender, DVB SE acted as mandated arranger, senior lender and global
security trustee and Crédit Agricole Corporate and Investment Bank
who acted as mandated arranger and senior lender.
TOUAX
Group leases out tangible assets (shipping-containers, modular
buildings, freight railcars and river barges) on a daily basis to
more than 5,000 customers throughout the world, for its own account
and on behalf of third party investors. With more than
€1.7 billion under management, TOUAX is one of the European
leaders in the operational leasing of this type of equipment.
TOUAX
is listed in Paris on NYSE EURONEXT - Euronext Paris Compartment C
(Code ISIN FR0000033003) and on the CAC® Small and CAC® Mid &
Small indexes and in EnterNext PEA-PME.
For
more information: www.touax.com
Contacts:
TOUAX
Fabrice & Raphaël Walewski
Managing partners
touax@touax.com
Tel: +33
(0)1 46 96 18 00
ACTIFIN
Ghislaine GASPARETTO
ggasparetto@actifin.fr
Tel: +33 (0)1 55 88 11 11
Touax - refinancing of a €55
million senior secured rail facility
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: TOUAX via Globenewswire
HUG#1932643
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