Russian railcar provider Brunswick Rail has revealed that it has completed its $500m financing plan to support the company’s expansion.
The funds will be invested primarily in building up the company’s freight railcar fleet.
The finance was raised through a combination of equity, mezzanine and debt with capital from a number of international investors and banks.
The Macquarie Renaissance Infrastructure Fund, with Russia’s Vnesheconombank as the cornerstone investor, has invested $125m in Brunswick Rail, which gives the company an initial 16% stake and a board position.
Other participants include Washington-based International Finance Corporation, which contributed $25m, and another $300m of debt financing through two syndicates of $200m and $100m led by EBRD and IFC, respectively.
Macquarie Renaissance is a joint venture between infrastructure investors Macquarie Group and Renaissance Capital in Russia.