UK train leasing company Angel Trains Group has secured £835 million (EUR 947.5 million) of new funding to refinance the procurement of 665 Bombardier Aventra vehicles that will be leased to Abellio Greater Anglia franchise from 2019. This senior debt has been raised from a diverse group of lenders with a maturity longer than the initial franchise term, and has been placed outside the credit-rated group. The transaction was arranged directly by Angel Trains.
“Our innovative refinancing model further emphasises Angel Trains’ ability to effectively and competitively manage our portfolio, reduce risk and create an attractive proposition to funders. We are delighted to have raised over £1.1 billion (1.2 bn euros) from the debt markets over the last three months. It paves the way for new projects and provides an increased capacity for Angel Trains’ continued investment in the UK rail industry … Our ability to offer whole-life asset management, utilising expertise across multi disciplines from engineering, project management, commercial and finance increases investor confidence, allowing us to continue to build, refurbish and improve our assets across the UK railways, while providing best value to passengers,” Malcolm Brown, Angel Trains CEO, said.
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