Market environment
The railway reforms in the EU have consistently led to the liberalisation and internationalisation of the railway market over the past 15 years. State railways often no longer finance new wagons themselves. Therefore, the fleet of private owners and lessors is continuously growing. Due to the transport sector's high environmental impact, sustainable transport concepts will further strengthen rail freight transport as a whole, since the railway emits five times less CO2 per tonne-kilometre than lorries.
Issuer
Aves One AG is a strongly growing inventory holder of long-lasting logistics assets with a focus on freight cars. With fixed assets of EUR 838 million (as of June 2019), Aves One is one of the leading inventory holders in Europe. The company invests in various types of freight wagons with an average service life of up to 45 years. These freight wagons are leased to established industrial companies and the major European railway companies.
Investment concept
Aves One plans to expand its business activities in rail freight transport. The long-term growth of the intermodal business is constantly increasing the demand for modern wagons with better protection of the goods and optimised payload. To finance freight wagons, the bond is issued by Aves Schienenlogistik 1 GmbH & Co. KG. The sole limited partner of the issuer is Aves Rail Equipment Holding GmbH, a 100% subsidiary of Aves One AG.
Picture credits: istockphoto © JamesBrey
