Leasing company Brunswick Rail yesterday announced the closing of a series of transactions to raise $500 million, which will be used to purchase freight cars. The main volume was raised in the form of loans from the European Bank for Reconstruction and Development, ING, Raiffeisen, Societe Generale and UniCredit Group. The company received $25 million in authorized capital from its shareholder, the International Finance Corporation, as a result of which the latter’s share in Brunswick Rail increased from 10% to 14%. Another $60 million was contributed to the authorized capital from the Macquarie Renaissance Infrastructure Fund (MRIF), the key investor of which is the state corporation Vnesheconombank. As a result, MRIF became the owner of 16% of Brunswick Rail shares. The company estimates that over the next ten years, the Russian railway market will need over 700 thousand new cars to replace the old fleet and service the growing flow of rail traffic. Now the company has 12.5 thousand cars. Brunswick Rail does not rule out that the funds raised could also be spent on purchasing locomotives for Russian railway companies.

Brunswick Rail found money for cars