NORD/LB Norddeutsche Landesbank is financing 28 new trams for Rostocker Straßenbahn AG, which are 100 per cent powered by green electricity and are therefore CO2-neutral. A consortium led by NORD/LB, Ampega Asset Management GmbH and Deutsche Leasing Finance with the involvement of DAL Deutsche Anlagen-Leasing, together with OstseeSparkasse Rostock and investors from Talanx Versicherungsgruppe, is providing a total of around € 90 million in debt capital for the financing. NORD/LB is acting as lead arranger and, in addition to structuring and granting the loan, is also acting as account bank, facility agent and security trustee for the consortium. It also acts as paying agent and registrar for the registered bonds it places.
NORD/LB already has a long-standing business relationship with Rostocker Straßenbahn AG and the parent company, RVV Rostocker Versorgungs- und Verkehrs-Holding GmbH. In the course of this cooperation, another joint project has now been implemented for Rostock's local public transport. The new trams will be manufactured by the long-established Swiss company Stadler and are scheduled to be in service from 2025. The financing of the new trams is an important step towards maintaining and further expanding climate-friendly public transport in Rostock.
"We are very pleased to be able to implement this forward-looking and sustainable project," explains Yvette Hartmann, Commercial Director of Rostocker Straßenbahn AG. "In NORD/LB we had a professional partner at our side whose financing and structuring expertise we could benefit from."
As the bank of the energy transition, NORD/LB has been financing sustainable projects in the energy and infrastructure sector for 30 years; this also includes rail and local public transport. Currently, the financing volume for infrastructure projects amounts to around EUR 5 billion. With this project, the bank is making a further contribution to the necessary change in transport - away from emission-intensive individual transport towards sustainable, public transport solutions.
About NORD/LB
NORD/LB Norddeutsche Landesbank is one of the leading German commercial banks. The core business segments include business with corporate customers, private and commercial customers including private banking as well as special finance in the energy and infrastructure sector, aircraft finance and commercial real estate finance. The bank is headquartered in Hanover, Brunswick and Magdeburg and has branches in Bremen, Oldenburg, Hamburg, Schwerin, Düsseldorf and Munich. Outside Germany NORD/LB is represented by a Pfandbrief Bank (NORD/LB Covered Bond Bank) in Luxembourg and branches in London, New York and Singapore.
