Deutsche Leasing seals agreement with Hungarian rail company Mav-Start

Deutsche Leasing’s Hungarian arm is
currently engaged in processing a rolling stock financing deal with
Hungarian rail company Mav-Start.  The facility, to the value
of €10.5 million, will be provided for the rent of eight Desiro
Classic Multiple Units.

The contract was dated September 24, and Mav-Start intends to
deploy the assets from summer 2009. The reason for the pause is
that the VT 642 assets are all used goods, and have been earmarked
for 6 to 8 months of refurbishment before they can be re-used, due
to stipulations in Hungarian legislation regarding criteria for
using rolling stock in public transport.

Deutsche Leasing Hungary was founded in 1993 as a platform for
provision of operating leases, but began offering finance leases
like the Mav-Start deal through Deutsche Leasing Hungaria Finanz, a
division started in 2000.