Siemens Financial Services for Piling Rig Finance
Siemens Financial Services (SFS) is one of the UK's most competitive lenders for very high-value piling rigs when the credit profile and contractor profile are strong. Their appetite for operating lease structures on large-format rigs - Bauer BG series, Liebherr LB series - differentiates them from most other lenders in this space. For a large foundation contractor managing multiple Bauer or Liebherr rigs and wanting to preserve balance sheet capacity, Siemens Financial's operating lease product is worth serious consideration.
SFS is selective and their minimum of £50,000 means they are reserved for mid-to-high-value piling transactions. Their rates (from 4%) are competitive with Lombard for the strongest credit profiles.
October 2026 Rate Indicatives
| Asset Type | Finance Type | Indicative Rate | Term | Min Value |
|---|---|---|---|---|
| Bauer BG 28/36 CFA rig (new) | Operating Lease | 4% – 7% | 5–7 yrs | £500,000 |
| Liebherr LB 24/28/30 (new) | Operating Lease | 4% – 7% | 5–7 yrs | £500,000 |
| Large CFA rig - Hire Purchase | Hire Purchase | 4.5% – 8% | 5–7 yrs | £200,000 |
| Rotary rig (mid-value) | Finance Lease | 4.5% – 8% | 4–7 yrs | £100,000 |
| Soilmec SR-60 or similar | Operating Lease | 4.5% – 7.5% | 5–7 yrs | £300,000 |
Rates indicative as of October 2026. SFS operates through the broker channel for construction equipment. Blue-chip contractor credit profile expected.
Strengths & Limitations
Strengths
- Operating lease available - keeps rig off balance sheet
- Very competitive rates for blue-chip credits (from 4%)
- Genuine appetite for Bauer BG and Liebherr LB series
- Long terms (up to 7 years) preserve capital
- Sophisticated product range for large contractors
Limitations
- £50,000 minimum - smallest rigs excluded
- Only suitable for strong, established contractors
- Operating lease requires strong understanding of IFRS 16
- Less appetite for used or older specialist rigs
- Underwriting process thorough and time-consuming