Norton Rose Fulbright has advised KfW IPEX-Bank on financing 490 Daimler buses for the public transport system in the Chilean capital Santiago de Chile, in a transaction worth approximately US$100.5 million.
The new vehicles are modern Euro 6 diesel buses with German engine technology, and will replace buses with Euro 4 or older technology. In a city with a public transport system that relies heavily on buses alongside metro lines, the new fleet of vehicles is expected to help improve air quality by reducing emissions. Four different operators in the Red network will deploy the new fleet and take old vehicles out of service.
KfW IPEX Bank GmbH provides banking services. The Bank is responsible for international project and export finance within KfW Bankengruppe. KfW IPEX provides medium to long-term financing solutions and finances ships, aircraft, railroad vehicles, and for investments in the expansion of airports and seaport.
Timo Noftz, Norton Rose Fulbright’s Hamburg-based banking partne, led the deal supported by associate Michael Volks and partner Uwe Eppler advised on tax matters.
Law Firms: Norton Rose Fulbright;
Clients: KfW IPEX-Bank GmbH;