Brunswick Rail replaces leaseback facility
RUSSIA: Wagon leasing company Brunswick Rail has agreed a rouble sale and leaseback arrangement with SpetsTransServis to replace a previous leaseback facility with Alfa-Leasing. Announcing the change on June 2, Brunswick Rail said the arrangement offered more attractive terms which would reduce its interest payments and increase its unencumbered fleet.
Brunswick Rail has also signed an additional leasing arrangement with STS for 2 530 open wagons. This forms part of Brunswick Rail’s wider strategy to focus on clients with high payment discipline and credit quality, reduce its costs and optimise its portfolio by expanding into more profitable fleet segments.
Brunswick Rail currently owns around 25 700 wagons, approximately 2% of Russia’s national total.