Vossloh AG has successfully placed promissory note-based loans totaling EUR 600 million, which will be used primarily to refinance the acquisition cost of European concrete sleeper manufacturer Sateba.
The company announced that strong demand from institutional investors allowed for a significant expansion of the transaction volume, which was oversubscribed, and the margins for all tranches were set at the lower end of the marketing range.
Refinancing of Sateba acquisition completed
The initial plan was to use the funds exclusively to repay the bridge financing contracted for the acquisition of Sateba.
However, strong investor interest and favorable conditions allowed for an increase in volume, so that, in addition to the bridge financing, the previously used long-term loan and other financial obligations due in the near future can also be fully refinanced.
The loans were disbursed on November 28 to replace the bridge financing and a significant portion of the long-term loan. A second tranche will be disbursed in February 2026. The new promissory notes have maturities of 3, 5, and 7 years, with both fixed and variable interest rates.
“A clear vote of confidence from the markets”
“Vossloh is a very attractive investment for investors due to its sustainable business model and long-term prospects. This is also reflected in the extremely high demand for this transaction. Despite the increase in volume, the placement was significantly oversubscribed.
It is a clear vote of confidence from the capital markets in Vossloh’s strategy and financial strength. We are thus completing the refinancing of the Sateba acquisition, optimizing our maturity profile and securing attractive long-term conditions,” said Dr. Thomas Triska, CFO of Vossloh AG.
The acquisition of Sateba, one of Europe’s leading manufacturers of concrete sleepers, was completed on October 1, 2025, and represents a key milestone in the implementation of Vossloh’s strategy.
The transaction was structured with the participation of BayernLB, Landesbank Baden-Württemberg, and Skandinaviska Enskilda Banken as joint lead arrangers. Landesbank Baden-Württemberg will also act as paying agent for the instruments issued.
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