NautaDutilh has advised, as Dutch co-counsel to Hengeler Mueller, Frankfurt, VTG AG and its subsidiaries in connection with a new EUR 450 mio syndicated loan arranged by Commerzbank, Deutsche Bank and UniCredit, with the participation of ten other banks.
The transaction closed on 5 May 2011. Next to attracting the new syndicated loan, VTG sold for EUR 480 mio bonds through a U.S. private placement, enabling it to repay a substantial part of its outstanding debt and support its expansion.
VTG AG is a leading global wagon hire and rail logistics company. The group, headquartered in Hamburg, has the largest private fleet of rail freight cars in Europe and has some 50,000 wagons worldwide. In addition to the hire services, VTG organizes rail freight transports as well as global transports of liquids in tank containers, which can be forwarded by rail, road or ship. VTG AG is listed on the Frankfurter Stock Exchange.
The NautaDutilh team advising VTG in this transaction consisted of Erik Geerling, Jaco Belder and Monique van Deudekom.