EUR 240m growth financing – Wascosa Group Holding successfully completes the raise of the Group’s growth financing to fund its upcoming investments
The Wascosa Group Holding has successfully closed the raise of its existing capex facility by EUR 90m and the incorporation of a second capex facility of EUR 150m, establishing a solid long-term basis for further investments in rail freight wagons.
This, once again, has shown the Group’s ability to secure senior debt based on its strong and resilient business model. Despite the uncertain environment and challenging financing markets, the Group has also been able to setup a new growth capex line with KfW IPEX-Bank in the amount of EUR 150m on its existing financing platform. These facilities also support our framework of a sustainability strategy by focussing on investments accelerating the shift from road to rail.
Benjamin Mehran, Group Head of Investments & Financing, says: “We are very proud to close the first expansion of our growth financing facilities after setting up our new corporate financing platform in 2022, showing the trust of and strong relationship with our core banks who agreed to provide us with additional funds based on the confidence in the strength and reliability of our business model and the solid performance of the Group over 2022. In 2023, our Group has proven its continuing abilities to structure and build up a sustainable investment pipeline of new rail freight assets. This raise of our growth financing is essential to fund our long-term growth. Again, a great milestone on our path to maintain and expand our leading position in Europe.”