OREANDA-NEWS. Brunswick Rail Limited (the "Company") and its subsidiaries (together the "Group"), following the refinancing of the secured facility on 18 January 2016, utilizing a sale and leaseback facility with Alfa-Leasing, announced today that OOO Brunswick Rail has utilized the second tranche of that sale and leaseback facility agreement with Alfa-Leasing, relating to 2,700 railcars, for approximately 1.6 billion RUR.

In the context of the rapidly deteriorating operating environment, as well as the unpredictability and volatility of the Russian rail industry and economy, the drawdown of the second tranche is in the best interests of the business. The second Alfa-Leasing tranche (which is without additional fees, and can be repaid at any time without penalty) will provide liquidity in the event of further market downturn.

 

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 30 June 2015), which represents approximately 2% of the total Russian railcar fleet.