Brunswick Rail Debut Eurobond Offering Recognised as a Euromoney 2012 Deal of
MOSCOW, February 7, 2013
MOSCOW, February 7, 2013 /PRNewswire/ --
Brunswick Rail, Russia's leading private freight railcar operating lessor, is
pleased to announce that its debut Eurobond issue has been named a 2012 Deal
of the Year for Central and Eastern Europe by Euromoney Magazine.
The company priced its debut US$600 million 5-year Eurobond with an annual
coupon rate of 6.5% in October 2012, with proceeds from the issue envisioned
to support the Company's growth strategy, while also enabling it to diversify
its sources of funding and to optimize its capital structure.
In spite of complex global market conditions, the order book was five times
oversubscribed, with more than 200 investors participating, including a broad
range of investors from the United States and Europe. Goldman Sachs,
Raiffeisen Bank International, UBS and VTB Capital acted as joint lead
managers for the placement.
Euromoney's annual Deal of the Year awards aim to recognise the deals that
broke records, reopened markets, innovated or succeeded despite challenging
Commenting on the award, Brunswick Rail CFO Nicholas Pascault said: "We are
very pleased with the success of the Eurobond, the warm reception from
investors and, now, the recognition by a leading financial publication. Not
only was this our debut Eurobond, but it was also the first Eurobond from a
Russian railcar operating lessor. With this transaction we achieved our
primary goal for last year and put the company on a very strong competitive
footing going into 2013. The transaction was skillfully organized and very
well timed with the market thanks to our joint lead managers."
About Brunswick Rail
Brunswick Rail is a private railcar operating lessor providing freight
railcars to large corporate clients in Russia. Established in 2004, Brunswick
currently owns a fleet of over 22,000 railcars (31-Dec-2012), which represents
approximately 2% of the total Russian railcar fleet. For the 12 months ended
30 June 2012, the Company generated revenues of US$271.9mm and EBITDA of
US$214.2mm. The Company's total assets as of 30 June 2012 were US$1.55bn.
Media contacts Lilia Lavrova, Brunswick Rail +7(495)783-6700
LLavrova@brunswickrail.com Tom Blackwell, M: Communications +7(495)363-2841
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