KfW IPEX-Bank finances two ferry newbuildings for Scandlines

Frankfurt am Main (ots) - KfW IPEX-Bank will finance two
state-of-the-art RoPax ferries which will be built by the German
shipyard Volkswerft Stralsund for the German-Danish ferry operator
Scandlines.

The newbuildings are not only very important for the utilisation
of the Volkswerft Stralsund shipyard's capacities. The shipyard group
also regards this order as one of the most important milestones for
developing new technical challenges. Financing the activities of
German shipyards is a core business area of KfW IPEX-Bank.

The financing comprises around 75% of the order value and benefits
from an ECA cover by Euler-Hermes. The loan term is 12 years. The
transaction will be refinanced through the German CIRR (Commercial
Interest Reference Rate) scheme for ship financings.

The new ferries can carry up to 1,500 passengers and 90 lorries or
460 cars. They are scheduled to operate on the traditional route
between Rostock, Germany and Gedser, Denmark from mid-2012 to replace
the ferries currently in operation and to double the capacity of the
route. The ferries can take vehicles on two decks, so that
embarkation and disembarkation will take a maximum of 15 minutes
despite the doubling of capacity. They also have much lower emissions
and are more energy-efficient than their predecessors while providing
passengers with a substantially higher level of service and comfort.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank is in charge of
international project and export finance. It is responsible for
providing financing to support the German and European economy, a
task derived from the legal mandate assigned to KfW Bankengruppe. Its
prime focus is on medium and long-term lending to boost the export
economy, develop economic and social infrastructure and support
environmental and climate protection projects. KfW IPEX-Bank operates
as a legally independent group subsidiary and plays a major role in
fulfilling the promotional mission of KfW Bankengruppe. It has
approx. 490 employees (as of May 2010) and is represented in the key
economic and financial centres around the globe.

About Scandlines

Scandlines was founded in 1998 and is one of the largest ferry
companies in Europe. Scandlines' core business is transportation of
passengers and goods in the triangle between Denmark, Germany and
Sweden, as well as on routes to the Baltic States and to Finland.
Scandlines sails with 12 million passengers, 2.7 million cars, as
well as 0.7 million trucks and trailers per year, and the prime
mission is to provide efficient, reliable and competitive
transportation.

Scandlines Press Contact:
Michael Speckenbach
Director of Corporate Communications
Tel: +49(0)4371 505390
eMail: Michael.Speckenbach@scandlines.com

Volkswerft Stralsund Press Contact:
Britt Fischer-Jahn
M / PR
Tel: +49(0)3831 663298
eMail: Britt.Fischer@volkswerft.de

Originaltext: KfW-IPEX-Bank
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Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: dela.strumpf@kfw.de
Tel.: 069 7431-2984, Fax: 069 7431-9409,
E-Mail: info@kfw-ipex-bank.de, Internet: www.kfw-ipex-bank.de