Hengeler Mueller advises VTG on their first hybrid bond

28. January 2015

VTG Aktiengesellschaft, one of the leading wagon hire and logistics companies in Europe has placed through its Luxembourg subsidiary, VTG Finance S.A., a hybrid bond with a volume of EUR 250 m on the capital market. The hybrid bond is guaranteed by VTG on a subordinated basis and forms part of a comprehensive financing concept with a total volume of EUR 370 m to finance the acquisition of the wagon hire company AAE, Ahaus Alstätter Eisenbahn Holding AG. The financing concept includes further a capital increase by 7.4 million new VTG shares which had already been effected prior to the issuance of the bond.

Hengeler Mueller advised VTG inter alia on the issuance of the hybrid bond and the capital increase. The Hengeler Mueller team included partners Alexander G. Rang (Capital Markets), Daniela Favoccia (Corporate/M&A), Wolfgang Groß (Corporate), Ernst-Thomas Kraft (Tax), Johannes Tieves (Financing), counsel Mathias Link (Tax) as well as associates Maximilian Clostermeyer (Capital Markets) and Thomas Lang (Corporate/M&A) (all Frankfurt). Hengeler Mueller had also advised VTG comprehensively on the acquisition of AAE the closing of which had been consummated in the beginning of this year.