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DGAP-News: VTG concludes financing of AAE acquisition with successful hybrid bond placement

VTG Aktiengesellschaft / Key word(s): Issue of Debt

2015-01-27 / 10:51

Press Release

VTG concludes financing of AAE acquisition with successful hybrid bond placement

- Transaction to replace vendor loan note

- Volume: EUR 250 million at an interest rate of five percent

- VTG chooses new financial instrument

Hamburg, January 27, 2015. VTG Aktiengesellschaft (WKN: VTG999), one of Europe's leading wagon hire and rail logistics companies, has placed a hybrid bond on the capital market for the first time. The bond's volume add up to EUR 250 million. The bond forms part of a comprehensive financing concept with a total volume of EUR 370 million to finance the acquisition of the wagon hire company AAE - Ahaus Alstätter Eisenbahn Holding AG.

"This is the first time in the history of VTG that we have selected the hybrid bond as a financial instrument", said Dr. Kai Kleeberg, CFO of VTG Aktiengesellschaft. "We are very pleased about how this has been received in the capital markets, which underlines the confidence international investors have in the corporate strategy and the growth path of VTG," he added.

The transaction was presented to potential investors in Germany, Switzerland, France and England in mid-January and it generated great interest. The bond is listed at the unregulated market segment of the Luxembourg Stock Exchange (ISIN: XS1172297696). With an interest rate of five percent, the equity-like and, in comparison to other financial liabilities, subordinated bond can be called after five years. The interest rate will subsequently increase by three percentage points. The date of issue was January 26, 2015.
After going public in 2007 and the refinancing through a US private placement in 2011, the hybrid bond has allowed VTG to open up a new channel of funding, which is also interesting for the future. The bond placement provides the company with access to new groups of investors and offers them an additional option of involvement in VTG.

The hybrid bond is associated with the financing of VTG's purchase of AAE. The other components are a capital increase in the amount of 7.4 million new VTG shares, which has already been carried out, as well as a cash component amounting to EUR 15 million. In its capacity as a wagon hiring company, AAE is a leading provider in the combined transport sector. The merger has created the only full-service provider for all essential wagon segments for rail freight traffic in Europe.

About VTG:

VTG Aktiengesellschaft is one of Europe's leading wagon hire and rail logistics companies, with a fleet consisting of more than 80,000 railcars. VTG offers a full-range service, providing tank cars, intermodal wagons, standard freight wagons and sliding wall wagons. In addition to the hiring of wagons, the Group offers comprehensive multi-modal logistics services, mainly around rail transport, and global tank container transports.

With the combination of its three interlinked divisions Railcar, Rail Logistics and Tank Container Logistics, VTG offers its customers a high-performance platform for international transport of their freight. The Group has many years of experience and specific expertise, in particular in the transport of liquid and sensitive goods. Its customers include numerous well-known companies from almost every industrial sector, for example the chemical, petroleum, automotive, paper and agricultural industries.

Press contact: Investor Relations contact:

Monika Gabler Christoph Marx

Head of Corporate Communications Head of Investor Relations

Telephone: +49 (0) 40 23 54-1341 Telephone: +49 (0) 40 23 54-1351

Fax: +49 (0) 40 23 54-1340 Fax: +49 (0) 40 23 54-1350

E-mail: E-mail:

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2015-01-27 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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