RBS and Astra Rail Industries announce the restructuring of International Railway

“We are pleased with the conclusion of this project and collaboration with the lending syndicate and RBS as lead bank. The approach applied, although structurally challenging and complex, has proven successful not only business-wise but also socially. Next steps will seek to restore the group long term into a trusted provider for the most demanding customers in the industry” said Thomas Manns, Investor and Chairman of Astra Rail Industries.

“This transaction is the first lenders-led restructuring out of insolvency in Romania, a jurisdiction notoriously debtor friendly and challenging on complex and sizable situations. The financing banks will continue doing business with the investor both as lenders and partners. It took us almost two years to find a credible and financially strong buyer and to implement a structure which is both beneficial for the lenders from the recovery perspective, and has a positive social impact. The international restructuring experience of RBS, combined with the strong capabilities and professionalism of the local team, allowed us to transfer international restructuring options also to Romania” said Ana Maria Petrescu, Head of GRG, RBS Romania.

“This high profile, successful project is a real premiere on the Romanian market. We want to serve our customers well and the special attention we give to the restructuring segment demonstrates that we are supportive of them in both good times as well as more difficult times” said Henk Paardekooper, President and Country Executive, RBS Romania.