DGAP-News

VTG concludes financing of AAE acquisition with successful hybrid bond placement

DGAP-News: VTG Aktiengesellschaft / Key word(s): Issue of Debt
VTG concludes financing of AAE acquisition with successful hybrid bond
placement

27.01.2015 / 10:51

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VTG concludes financing of AAE acquisition with successful hybrid bond
placement

- Transaction to replace vendor loan note

- Volume: EUR 250 million at an interest rate of five percent

- VTG chooses new financial instrument

Hamburg, January 27, 2015. VTG Aktiengesellschaft (WKN: VTG999), one of
Europe's leading wagon hire and rail logistics companies, has placed a
hybrid bond on the capital market for the first time. The bond's volume add
up to EUR 250 million. The bond forms part of a comprehensive financing
concept with a total volume of EUR 370 million to finance the acquisition
of the wagon hire company AAE - Ahaus Alstätter Eisenbahn Holding AG.

"This is the first time in the history of VTG that we have selected the
hybrid bond as a financial instrument", said Dr. Kai Kleeberg, CFO of VTG
Aktiengesellschaft. "We are very pleased about how this has been received
in the capital markets, which underlines the confidence international
investors have in the corporate strategy and the growth path of VTG," he
added.

The transaction was presented to potential investors in Germany,
Switzerland, France and England in mid-January and it generated great
interest. The bond is listed at the unregulated market segment of the
Luxembourg Stock Exchange (ISIN: XS1172297696). With an interest rate of
five percent, the equity-like and, in comparison to other financial
liabilities, subordinated bond can be called after five years. The interest
rate will subsequently increase by three percentage points. The date of
issue was January 26, 2015.
After going public in 2007 and the refinancing through a US private
placement in 2011, the hybrid bond has allowed VTG to open up a new channel
of funding, which is also interesting for the future. The bond placement
provides the company with access to new groups of investors and offers them
an additional option of involvement in VTG.

The hybrid bond is associated with the financing of VTG's purchase of AAE.
The other components are a capital increase in the amount of 7.4 million
new VTG shares, which has already been carried out, as well as a cash
component amounting to EUR 15 million. In its capacity as a wagon hiring
company, AAE is a leading provider in the combined transport sector. The