MEAG, Munich Re’s asset manager, is financing new rolling stock for the Leipzig Central German S-Bahn Network 2025+.
Rock Rail and Infracapital have created an investment platform for rolling stock in Germany, which will finance a new electric fleet for the Leipzig Central German S-Bahn Network 2025+ (MDSB 2025+). This follows the closing of the first lot just months ago.
MEAG is announced as the sole arranger of the senior debt financing on behalf of Munich Re Group and other institutional lenders, demonstrating its commitment to modernizing sustainable public transport in Germany.
The fleet will consist of 41 Siemens Mireo 3-car trains and will begin service in 2026. Die Länderbahn GmbH, part of the Netinera Group, has won the concession to operate part of the MDSB 2025+ services and will lease the trains initially. The new trains are designed to enhance passenger experience and increase capacity, supporting Germany’s growing demand for rail travel and shift from less environmentally friendly transport modes.
The Siemens Mireo platform offers up to 25% higher energy efficiency compared to trains with similar capacities and promotes climate-friendly mobility. The fleet will provide step-free access from a standard 550mm platform and is equipped with a gap-bridging plate and sliding step for TSI PRM compliant access at all platform heights. The train exterior is marked for wheelchair users and bicycle spaces to facilitate passenger flow at busy stations.
Mark Swindell, chief executive officer at Rock Rail, said that the firm has been working in Germany since 2018 and has strong relationships with all the German regional public authorities, operators, and manufacturers.
“We are delighted to have worked on our second deal in Germany with Infracapital and MEAG to lease Siemens Mireo trains to Die Länderbahn in the beautiful city of Leipzig. We will continue to work very hard with our operator partners to fund more fleets in Germany with Infracapital over the next few years,” Swindell said.
Benjamin Hemming (pictured above), head of illiquid assets debt at MEAG, highlighted the firm’s support for Rock Rail and Infracapital by arranging the senior debt financing for the Siemens Mireo trains for the MDSB2025+ network.
“This underpins our ambition to substantially contribute to the modernization of sustainable public transport in Germany. The technically advanced features of the new fleet will allow state-of-the-art passenger experience, increased capacity and an improved environmental footprint,” Hemming said.
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