KfW IPEX-Bank supports expansion course of TUI Cruises together with other banks

Frankfurt am Main (ots) -

- Order for Meyer Turku shipyard secured through financing of two
new cruise liners
- KfW IPEX-Bank one of three bookrunners in a European banking
consortium
- Structuring of high-volume financing deals for still flourishing
cruise sector

KfW IPEX-Bank is part of a banking consortium that is supporting
the expansion course of the German cruise operator TUI Cruises with
high-volume financing transactions. According to a statement made by
the shipping company, the expansion course also involves an order for
two new ships from the Meyer Turku shipyard. By expanding its fleet,
TUI Cruises intends to reinforce its position in the European cruise
market.

Jointly with UniCredit and one other European commercial bank, KfW
IPEX-Bank as one of the bookrunners structured the entire financing
of the new ships for TUI Cruises and secured the order for the Meyer
Turku shipyard with its commitment to finance the total loan amount.
Additional banks contributed to the financing.

"As one of the world's leading providers of ship finance we are
once again underlining our structuring expertise in the cruise sector
with this commitment," said Christian K. Murach, responsible member
of the Management Board at KfW IPEX-Bank. "We are pleased to have
been a reliable financing partner for the successful German shipping
company TUI Cruises from the very beginning."

With its "Mein Schiff" fleet, currently comprising four vessels,
TUI Cruises is one of the fastest-growing cruise operators in the
German market. The fleet is to grow to six ships by 2017 when the
vessels already under construction (Mein Schiff 5 and Mein Schiff 6)
are completed. The two new ships that have now been ordered will
respectively replace Mein Schiff 1 and Mein Schiff 2 in 2018 and
2019, thus contributing to the modernisation of the fleet, while also
setting new standards in terms of environmental performance.

The Finnish yard Meyer Turku specialises in building highly
complex, innovative and environmentally friendly cruise ships,
car-passenger ferries and special vessels. Together with Meyer Werft
in Papenburg and Neptun Werft in Rostock, Meyer Turku is one of the
world's leading cruise ship builders.

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: 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