VTG rolls in with Eu450m loan to complete refinancing exercise after US bond deals

German railway wagon maker VTG has signed a new Eu450m syndicated loan which will, along with US private placements completed at the end of March, extend the maturity of its funding. The US PPs will be used as long term core financing, while the credit line will fund investments. The debt raising exercise, which totals Eu930m, also increases the company’s flexibility.