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KfW IPEX-Bank structures financing of MAN buses for Mexico
Frankfurt am Main (ots) -
- 55 new double-decker buses produced in Germany - Support for the domestic export industry - Contribution to the expansion of public transport infrastructure in Mexico
KfW IPEX-Bank is providing a loan for the equivalent of EUR 21.3 million to the Mexican bus operator Inversionistas en Autotransportes Mexicanos S.A. de C.V. (IAMSA). The debt capital is helping IAMSA finance the purchase of 55 new MAN double-decker buses with high floor chassis manufactured in Germany. The export credit will be paid out over a term of 2 years in the local currency which is the Mexican Peso.
"The structured financing we created has a twofold impact because it serves to expand the transport infrastructure in Mexico and, at the same time, supports the domestic export industry", said Andreas Ufer, Member of the Management Board of KfW IPEX-Bank, commenting on the closing. "We are happy to have gained IAMSA as a well-respected new client and also that we may support our long-time partner MAN in this important international business."
IAMSA is Mexico's largest bus operator, which carries around 350 million passengers annually on 9,600 buses and coaches in 24 Mexican states. The MAN coaches financed by KfW IPEX-Bank will connect destinations in central Mexico and the Pacific coast with each other in the future. Due to their long-distance use between 500 and 1,000 kilometers, special emphasis was placed on high-quality equipment and safety systems. The double-deckers thus have space for up to 42 passengers and provide comfortable seats with more legroom, individual entertainment systems and modern air conditioning systems. Safety is ensured with the latest vehicle technology such as the electronic braking system (EBS), automatic adaptive cruise control as well as lane guard and emergency brake assist systems.
Buses are the key element of passenger transport in Mexico. They are used for 99 per cent of public transport.
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