Station naming deals announced
Runaway Rail Car Kicked Loose by Teen Hits New York Station
Škoda unveils its second tram for the Chinese market
Wabtec to buy Faiveley Transport for US$1·8bn
Constantine tram extension contract
Channel Tunnel: '2,000 migrants' tried to enter
Ottawa urban rail gets federal funding
UK and Italian operators order Vossloh locomotives
First Great Western and Eversholt sign Hitachi AT300 train contract
Tanzania, Rwanda and Burundi invite interest in DIKKM railway
SOUTH AFRICA: State-owned freight transport company Transnet signed a R30bn loan agreement with China Development Bank on the sidelines of the World Economic Forum in Cape Town on June 4.
The loan is part of a bilateral memorandum of understanding signed by the two countries’ presidents last December. The proceeds are to be used to finance 232 diesel and 359 electric locomotives which have been ordered from CNR and CSR.
Transnet plans to draw down the R18bn first tranche of over four years, with the second tranche subject to market conditions and funding requirements. The repayment term is 15 years, with a grace period of 4½ years while the locomotives are being built.
Transnet said the loan would mitigate liquidity risk, maintain the cost of debt within acceptable levels, match the asset and liability profile taking into account the useful life of the locomotives, diversify funding sources and conserve its domestic credit lines.
This article first appeared on www.railwaygazette.com
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2021 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.