Helaba Landesbank Hessen-Thüringen has successfully arranged the financing of the refurbishment and complete overhaul of 29 "RegioShuttle" diesel multiple units that will be de-ployed by Erfurter Bahn on the Ostthüringennetz (OTN network) in the German state of Thuringia.
Helaba Landesbank Hessen-Thüringen has successfully arranged the financing of the refurbishment and complete overhaul of 29 "RegioShuttle" diesel multiple units that will be deployed by Erfurter Bahn on the Ostthüringennetz (OTN network) in the German state of Thuringia. Erfurter Bahn previously emerged as the successful bidder in a pan-European competitive tendering process as the operator of the rail network. It will therefore continue to operate the OTN network for a further twelve years from the beginning of the new timetable in December 2024. The trains used will consist of completely modernised Stadler RegioShuttle suburban multiple units. The upgraded rolling stock will make it even more attractive for people to switch to rail and help reduce high-emission private transport.
Helaba was able to secure co-funding from Thüringer Aufbaubank, a local development bank, as part of the transaction. During the process of arranging the deal, Helaba worked closely with Erfurter Bahn's consultant, BSL Transportation Consultants GmbH & Co. KG.
In commenting on the transaction, Michael Hecht, Managing Director of Erfurter Bahn GmbH, stressed: "The way in which we were able to work together efficiently and in a spirit of trust is particularly worth highlighting and ultimately ensured that this financing project, which is extremely important to us, was successfully completed within a very narrow timeframe." Eva Meyer, Head of Land Transport at Helaba, added: "We are proud to be contributing to improving rail transport services in Thuringia with this transaction. Thanks to Thüringer Aufbaubank providing a share of the funding as well as the commitment shown by all parties involved, we succeeded in arranging an attractive financing solution for Erfurter Bahn."