EUROPE: KfW IPEX-Bank and DVB Bank have agreed to finance the purchase of up to 1 335 freight wagons by leasing company Touax Rail Ltd’s Irish-registered single-purpose company TX Rail Finance 4.

The two banks will contribute equally to the long-term financing, which is worth more than €54m with a term of 5½ years, and a short-term facility of over €18m with a maximum term of 1½ years.

Touax Rail founded the investment fund in order to finance the equity component and to provide equity for similar transactions in the future.