KfW IPEX-Bank provides financing for Scottish railway network

Frankfurt am Main (ots) -

- Syndicate financing together with SMBC und RBS/Lombard
- 70 new electric multiple units for key route between Glasgow and
Edinburgh
- Promoting environmentally friendly rail transport
- Contributing to expansion of European transport infrastructure

KfW IPEX-Bank has provided structured financing for the Scottish
railway network together with SMBC Leasing and Finance Inc. and
RBS/Lombard. KfW IPEX-Bank's contribution amounts to GBP 140 million
(around EUR 190 million).

The project comprises 70 electric multiple units produced by
Hitachi Rail Europe and also includes a 10-year maintenance deal. The
order has been placed by leasing company SMBC Leasing (UK) Ltd, which
leases the units to the Dutch operator Abellio ScotRail Ltd. The
latter won the bidding process for the franchise to operate the
entire Scottish network "ScotRail" comprising 347 train stations,
almost 800 trains and 4,850 employees. This includes the
electrification of the Glasgow - Edinburgh line and the roll out of
the new trains during 2017 and 2018.

"We are supporting the heart of the Scottish railway network
expansion by financing the rolling stock for the Glasgow - Edinburgh
line," said Christian K. Murach, member of the Management Board of
KfW IPEX-Bank. The expansion of the line will ease private transport
congestion between the two large cities and enable a general
improvement in mobility for the people in Scotland's densely
populated central belt with faster journey times, higher capacities
and better service quality.

The multiple units are 46 three-car and 24 four-car trains of the
type AT200 EMU. The light and modern trains can reach speeds of up to
160 km/h.

The first seven trains are being produced at Hitachi in Japan;
once the new Hitachi Rail Vehicle Manufacturing Facility in Newton
Aycliffe/UK opens later on this year as planned, train production
will be relocated to the UK. The roll out of the new trains is to be
completed by the end of 2018.

About KfW IPEX-Bank GmbH

Within the KfW Group, KfW IPEX-Bank is responsible for
international project and export finance. Its function of providing
financing to boost the German and European economy is derived from
the legal mandate assigned to KfW. It offers medium- and long-term
financing to support key export industries, to develop economic and
social infrastructure and to fund environmental and climate
protection projects. KfW IPEX-Bank operates as a legally independent
group subsidiary and plays a major role in fulfilling KfW's
promotional mission. It is represented in the most important economic
and financial centres across the globe.

Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: Dela Strumpf, 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