MEAG, the asset manager of Munich Re, is financing new rolling stock for the German Central S-Bahn network in Leipzig 2025+.

Rock Rail and Infracapital have created a rolling stock investment platform in Germany, which will finance a new electric fleet for the S-Bahn German Central 2025+ (MDSB 2025+) network in Leipzig. This comes after the first batch closed just a few months ago.

MEAG has been announced as the sole arranger for the senior debt financing on behalf of Munich Re Group and other institutional lenders, demonstrating its commitment to modernizing sustainable public transport in Germany.

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The fleet will consist of 41 3-car Siemens Mireo trains and will begin service in 2026. Die Länderbahn GmbH, part of the Netinera Group, has won the concession to operate part of the MDSB 2025+ services and will initially lease the trains. The new trains are designed to enhance the passenger experience and increase capacity, supporting Germany’s growing demand for rail travel and the switch from less environmentally friendly modes of transport.

The Siemens Mireo platform provides up to 25% higher energy efficiency than trains of similar capacity and promotes climate-friendly mobility. The fleet will provide step-free access from a standard 550mm platform, and is equipped with a gap-fill panel and a sliding step for TSI PRM compliant access at all platform heights. The exterior of the train is designated for wheelchair users and bicycle spaces to facilitate passenger flow at crowded stations.

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Rock Rail CEO Mark Swindle said the company has been operating in Germany since 2018 and has strong relationships with all German regional public authorities, operators and manufacturers.

“We are pleased to be working on our second deal in Germany with Infracapital and MEAG to lease Siemens Mireo trains to Die Länderbahn in the beautiful city of Leipzig. We will continue to work hard with our operator partners to finance more fleets in Germany with Infracapital over the next few years,” said Swindel.

Benjamin Hemming (pictured above), head of illiquid asset debt at MEAG, highlighted the company’s support for Rock Rail and Infracapital by arranging senior debt financing for Siemens Mireo trains for the MDSB2025+ network.

“This supports our ambition to contribute significantly to the modernization of sustainable public transport in Germany. The technologically advanced features of the new fleet will allow for a cutting-edge passenger experience, increased capacity and improved environmental footprint,” Hemming said.

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