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Transport Finance
Private equity to buy Patriot Rail
Private equity firm SteelRiver Infrastructure Partners has agreed to acquire the entire share capital of US shortline and regional operator Patriot Rail. Terms of ...
09-May-2012
Delhi subway gets JICA funds
India's Delhi Metro Rail Corporation (DMRC) has received funding from Japan International Co-operation Agency (JICA) after the two parties signed an accord valued at ...
09-May-2012
Malaysian rail takes Islamic route
Malaysia has hired Maybank Investment Bank, CIMB Investment Bank, RHB Investment Bank and AmInvestment Bank to manage a sale of Islamic bonds (sukuks) to ...
08-May-2012
Korea operator sells bonds
On 19 April Korea Rail Network Authority sold KRW150 billion (USD131.46 million) of bonds via Kyobo Securities. The paper had a coupon of 4.12 ...
30-Apr-2012
JRCTTA completes term loan
Japan Railway Construction Transport & Technology Agency (JRCTTA) has completed a JPY39.5 billion (USD486.9 million), four-year term loan via arranger and agent Aozora Bank. ...
30-Apr-2012
Smaller is sometimes better
In business, as in life, sometimes the best decisions are the ones not made. In 1994, the board of Kansas City Southern Industries was ...
24-Apr-2012
Georgia to sell rail stake
Georgia plans to sell up to 25 per cent of shares in the state railway monopoly through a float on the London Stock Exchange ...
17-Apr-2012
Korea Railroad sells bonds
On 5 April Korea Railroad Corporation sold KRW200 billion (USD175.48 million) of five-year bonds via lead manager KTB Securities. The coupon is 3.94 per ...
12-Apr-2012
Tight coupon for Hong Kong MTR
MTR Corporation of Hong Kong has issued the tightest-ever coupon for five-year US dollar-denominated paper in Asia. MTR launched the deal on 29 March ...
12-Apr-2012
China Railway to issue notes
China Railway Group is working on a CNY10 billion (USD1.58 billion) private medium-term note issuance. China Construction Bank (CCB) and Industrial & Commercial Bank ...
12-Apr-2012
Vegas rail tables new plan
First-tier bondholders of bankrupt Las Vegas Monorail have voted in favour of the company's fifth reorganisation plan. Those bondholders would be paid USD13 million ...
14-Mar-2012
Reliance makes first drawdown
Australia's Reliance Rail made its first drawdown on an AUD357 million (UDS357.9 million) project financing loan for a passenger rail public-private project in New ...
14-Mar-2012
Funds for Shenzhen rail
Hong Kong and Shanghai-listed China Railway Group is in the market for up to CNY10 billion (USD1.5 billion) to finance the building of Shenzhen's ...
14-Mar-2012
MRT completing bridge loan
Domestic Malaysian banks, including CIMB and Maybank, are in the midst of completing a bridge loan of around MYR5 billion (USD1.7 billion) to help ...
14-Mar-2012
CNR launches rights issue
Railroad manager and operator China CNR Corporation has launched its jumbo rights issue of up to CNY7.1 billion (USD1.13 billion). CNR plans to place ...
02-Mar-2012
Private investors sought in Philippines project
Private investors have started talks with San Miguel Corporation, the Philippines' largest company, after the conglomerate said it plans to bid for a PHP60 ...
02-Mar-2012
China sets bond target
China's rail ministry has proposed an annual target of CNY150 billion (USD23.81 million) for its enterprise bond sales but final approval from regulators is ...
02-Mar-2012
UAE completes rail funding
Dubai's Department of Finance raised USD675 million from a dual-currency financing to complete phase 1 of the Al-Sufouh Tram project in the United Arab ...
02-Mar-2012
CP proxy war heats up
On New Year's Eve 2009, E Hunter Harrison hung up his rail spikes after a successful career capped off by leading Canadian National's (CN's) ...
14-Feb-2012
Hey, big spender!
On 1 July 1862, US President Abraham Lincoln signed into law the Pacific Railway Act that created the original Union Pacific (UP) Railroad to ...
31-Jan-2012
Bombardier gets standby facility
Bombardier Transportation Financial Services (BTFS) has received a USD200 million, five-year standby letter of credit (L/C) from ICICI Bank and Bank of India. ICICI...
18-Jan-2012
Chongqing Rail mandates loans
Chongqing Rail Transit Group has mandated Bank of China (Chongqing) for two facilities - a CNY7 billion (USD1.10 billion) loan and another CNY3.56 billion ...
18-Jan-2012
San Miguel submits rail proposal
Philippine conglomerate San Miguel Corporation, Southeast Asia's largest publicly listed food, beverage and packaging company, has submitted a proposal to the government to expand ...
17-Jan-2012
Chasha Rail lands loan
China's Chasha Rail Transit Group Co Ltd, a wholly state-owned company engaged in the investment in and construction of subways in Changsha City, Hunan ...
10-Jan-2012
CIT Rail closes securitisation
Citi, acting as sole structuring agent, closed in late December a USD703 million railcar securitisation for CIT Rail. The transaction is one of the ...
10-Jan-2012
Japanese rail deal completes
Aozora Bank has completed a JPY15 billion (USD195 million), four-year loan for Japan Railway Construction Transport (JRCT). Twenty regional Japanese banks joined Aozora, the ...
10-Jan-2012
IRFC mandates for bond sale
Indian Railway Finance Corporation (IRFC), the funding arm of India's rail ministry, has mandated AK Capital Services, ICICI Securities and SBI Capital Markets for ...
10-Jan-2012
The track most travelled
The domestic US intermodal segment acquitted itself well in an otherwise uneven year for US transport in 2011. And if the railroads' 2012 and ...
04-Jan-2012
Bill Ackman to take wallflower CP for a dance
Ackman runs New York-based Pershing Square Capital Management, a US10 billion hedge fund that has made its name, and Ackman his fortune, investing in ...
07-Nov-2011
Time to get a ticket to ride
In mid-October, US railroads began disclosing their financial results for the third quarter of 2011, a period that will be watched more closely than ...
21-Oct-2011
KCSM finalises credit facility
Rail operator Kansas City Southern de México (KCSM) has entered into a USD200 million credit facility expiring 30 September 2016. The facility amends and...
03-Oct-2011
JR East plans bond issue
East Japan Railway (JR East) is to sell JPY25 billion (USD325 million) of bonds on 29 September. The paper matures in 2021 and carries ...
28-Sep-2011
China Railways to issue paper
China's Ministry of Railways, the country's biggest issuer of corporate debt, plans to sell CNY20 billion (USD3.1 billion) of enterprise bonds on 28 September. ...
28-Sep-2011
IRFC deal attracts lenders
The USD200 million five-year term loan for the Indian Railway Finance Corporation (IRFC) has attracted at least seven lenders in syndication, and the facility ...
28-Sep-2011
Brazil rail seek finance
The governments of Brazil's Rio Grande do Sul state and capital Porto Alegre will seek financing from federal savings bank Caixa Econômica Federal (CEF) ...
15-Sep-2011
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