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Risk Management Finance for Transportation and Warehousing in Russia


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Business Finance News show that Brunswick Wagon Leasing Limited (“BWL” or the “Company”) is a recently established leasing company providing freight railcars to corporate clients in the Russian Federation.

It generally provides the railcars on an operating lease basis (where the residual value of the railcars remains with BWL). It is a wholly owned subsidiary of Brunswick Rail (“Brunswick” or the “Group”), one of the largest privately-owned freight railcar leasing companies active in the Russian Federation with a fleet of over 14,000 railcars. The Group is looking to expand its fleet over the next 12 months to optimize its operations and achieve the critical mass it needs to thrive in the sector.

IFC has previously provided two loans to another subsidiary of the Group (Brunswick Rail Leasing which provides railcars on both an operating and financial lease basis) and has an equity stake in Brunswick.

Brunswick is a holding company incorporated in Bermuda which is in turn owned 35% by its two founders Mr. Martin Andersson and Mr. Gerard de Geer, 16.5% by Sumitomo, 9.8% by IFC and the balance by other shareholders and management.

The total Finance Project cost is estimated at $455 million.  LLS Global Funding proposed an IFC Corporate Loan consisting of an A loan of up to $50 million, a B loan of up to $50 million and an equity investment (either in BWL or parent Brunswick) of up to $25 million.

The Group’s railcars operate throughout the Former Soviet Union but particularly throughout the Russian Federation. Brunswick’s senior management is based in Moscow.

In supporting the further expansion of Brunswick’s fleet, IFC would be directly supporting the continued development of one of the most competitive, best run players in the sector. It would build on previous engagements with the Group and assist with its continued growth and development helping it achieve the critical mass it needs to become a key long-term participant in the sector.

This would stimulate competition and provide transportation companies with a viable alternative to owning railcars directly.

Warehousing Russia


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