2 June 2017, Moscow – Brunswick Rail Limited (the “Company”) and its subsidiaries (together the “Group”), announced today that it has unwound the Alfa-Leasing LLC leaseback facility via a new RUR sale and leaseback arrangement with Spets Trans Service (“STS”). The new arrangement has more attractive terms, which allow the Company to decrease its interest expense and increase its unencumbered fleet.
Simultaneously, the Company signed an additional leasing arrangement with STS for 2 530 gondolas. The transaction, which is expected to close by 31 July 2017, is part of a larger plan of the Company to increase profitability and address the current fleet structure deficiency by focusing on clients with high payment discipline and credit quality, cost cutting and optimizing fleet portfolio by expanding into more profitable fleet segments to maintain 100% utilization.
About Brunswick Rail:
Brunswick Rail is a private railcar operating lessor providing freight railcars to large corporate clients in Russia. Established in 2004, Brunswick Rail currently owns a fleet of ca. 25.7 thousand railcars (as of 31 December 2016), which represents approximately 2% of the total Russian railcar fleet.
Victor Koshkin, Brunswick Rail
Tel: +7 (495) 783 6700
Myron Wasylyk, PBN Hill+Knowlton
Mobile (Russia): +7 (915) 036-9643