Together with NORD/LB, BayernLB is financing 31 new diesel-powered cars for the Bavarian rail company Bayerische Oberlandbahn GmbH (“BOB”). The two Landesbanks are providing over EUR 100 million in total. The borrower, Alpha Trains, is a Luxembourg company and the largest lessor of rolling stock in Continental Europe. It leases power cars and locomotives to public and private rail operators alike throughout Europe. The modern Coradia Lint 54 diesel railcars are manufactured in the city of Salzgitter in Lower Saxony by the company Alstom.
Dr Christoph Pasternak, who heads BayernLB’s Rail Finance & Structured Leasing Team, commented: “Even in this complex financing, with so many parties involved, our decades of experience in the rolling stock / rail segment has proven to be helpful. What makes this transaction especially gratifying is that it supports the passenger rail network in our home state of Bavaria.”
Shaun Mills, CEO of the Alpha Trains Group, had this to say: “We are excited to have the opportunity to implement this project with NORD/LB and BayernLB. We see both banks as major financing partners in Germany’s passenger transport network and hope to continue working with them in future projects as well.”
The lessee of the 31 trains is Bayerische Oberlandbahn GmbH, a wholly-owned subsidiary of Transdev Group. Run under the umbrella brand BRB (Bayerische Regiobahn), the vehicles are being deployed successively throughout the Bavarian Oberland, with the first batch already in operation since June and the rest to follow by the end of the year. The best part of it all: In the course of the open-ended contract with the state-owned Bayerische Eisenbahngesellschaft (“BEG”), which plans, finances and controls the passenger rail network in Bavaria, the existing fleet will be replaced by 25 new vehicles. The Free State is also introducing six new trains on top of that, thereby increasing passenger capacity and services. The modern Lint trains will replace the current stock.
In the new trains riders will have free Wi-Fi and charging sockets as well as a modern passenger information system and barrier-free access in line with the latest EU standards. Despite their diesel engines, these low-emission, quiet trainsets release far less pollutants into the air, namely 90% fewer nitrogen oxides and virtually zero particulates.
Bayerische Oberlandbahn serves the segment that connects Munich to the Bavarian Alps, with Bayrischzell, Lenggries and Lake Tegernsee as final destinations. As the rails south of Holzkirchen, a small town along this route, are not electrified, the entire network is diesel-powered.