Latest Rail News

06.12.17

Angel secures funding to refinance Greater Anglia Aventra rolling stock

Funding of £835m has been secured by Angel Trains to refinance the procurement 665 trains for Greater Anglia.

The 665 Bombardier Aventra vehicles will be leased to the Abellio Greater Anglia franchise from 2019.

Angel Trains Group has raised the funds from a diverse group of lenders, alongside other recent debt issuance of around £300m, which the company says will reduce its refinance risk, providing “headroom for further investment.”

Malcolm Brown, chief executive of Angel Trains, said that the train leasing company is “delighted” to have raised over £1.1bn over the past three months.

He said: “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.”

Brown continued: “It paves the way for new projects and provides an increased capacity for Angel Trains’ continued investment in the UK rail industry.”

Have you got a story to tell? Would you like to become an RTM columnist? If so, click here

Comments

Andrew Gwilt   06/12/2017 at 19:20

That’s why people who use Greater Anglia and have heard about new trains coming will soon be seeing them in service from 2019. And that’s why I can’t wait.

Andrew JG   07/12/2017 at 03:35

@RTM. Hate to say it but that picture looks old. That’s a Class 165 in First Great Western Link livery before it was rebranded in Great Western Railway green livery. Why didn’t you include a Greater Anglia Class 153 or Class 156.

Andrew JG   07/12/2017 at 03:37

Or a Renatus Class 321 that is refurbished.

Not A Parody, Honest   07/12/2017 at 09:19

Or an Aventra as they are the rolling stocks for the GA Franchise to operate services out of London Liverpool Street station

Not Quite....   07/12/2017 at 12:38

Not sure what you're waiting for Andrew with the new trains as ! and most of my fellow travellers from North Essex fear them with dread! Newer trains these days are almost always more uncomfortable and cramped with seats like diving boards. We lose our first class except for Norwich services and even these will be limited. The style today is nothing matters other than capacity so just cram them in basic kit! When you think we used to have Clacton Expresses with catering and comfortable spacious seats, what a downfall to today's offering.

T Marks   07/12/2017 at 13:05

One would wonder if that is a photo of an Angel owned train. Great Western Greater Anglia

SPT   07/12/2017 at 15:09

Jeez... we've suffered enough with shabby un-refurbished 360's. The "Renatus" 321's have little in terms of comfort and now we are to be subjected to new packing crates on wheels in the form of Aventras... Can't wait.... not

Huguenot   07/12/2017 at 20:03

So what's going to happen to Anglia's existing stock? Quite a lot of it is not yet ready for the scrapheap. (Passenger comfort is a function of the seating quality and layout rather than the basic train itself.) Of course, if various electrification projects across the country had not been halted (e.g. MML, Trans-Pennine, S Wales Valleys) then they would have found a home. One wonders if the cost or writing off unwanted electric stock is ever taken into account when deciding on electrification projects.

Andrew Gwilt   08/12/2017 at 02:08

@Not Quite.... True. I went on the refurbished Class 321 and the seats aint wide enough to accommodate leg space which is real shame.

Andrew JG   09/12/2017 at 00:21

Oh so now you have changed the picture RTM. Well done.

Not A Parody, Honest   12/12/2017 at 10:53

Great work Andrew! Now the correct rolling stocks are on display.

Andrew Gwilt   15/12/2017 at 00:47

@Not A Parody, Honest. I’m waiting patiently on whether the new Aventra trains for WM Trains and c2c could be classified as in the Class 3xx or Class 7xx category and CAF Civity DMU that could be classified in the Class 19x category. Properly it should be announced after Christmas or in early January next year for these rail operators.

Add your comment

 

related

rail technology magazine tv

more videos >

latest rail news

Scrap HS2 and use its £56bn budget to fund 28 alternative projects, urges TPA

14/05/2019Scrap HS2 and use its £56bn budget to fund 28 alternative projects, urges TPA

Scrapping the £56bn HS2 project could pave the way for 28 separate local infrastructure schemes to be funded instead with the case “g... more >
DfT calls for new technology to transform transport accessibility, but union warns against ‘faceless’ railway

14/05/2019DfT calls for new technology to transform transport accessibility, but union warns against ‘faceless’ railway

The DfT has called for new technologies to revolutionise travel for older people and those with disabilities, but the RMT has “reacted with... more >
First leg of HS2 ‘passing the point of no return’ due to amount of money already invested, says NAO head

13/05/2019First leg of HS2 ‘passing the point of no return’ due to amount of money already invested, says NAO head

HS2 is on the “verge of passing the point of no return” and the amount of money spent would make scrapping the flagship project &ldqu... more >

editor's comment

23/01/2018Out with the old...

Despite a few disappointing policy announcements, especially for the electrification aficionados amongst us, 2017 was, like Darren Caplan writes on page 20, a year generally marked by positive news for the rail industry. We polished off the iconic Ordsall Chord (p32), hit some solid milestones on Thameslink (p40), progressed on ambitious rolling stock orders (p16), and finally started moving forward on HS2 (p14) ‒ paving the way for a New Ye... read more >

rail industry focus

View all News

interviews

Advancing the rail industry with management degree apprenticeships

08/05/2019Advancing the rail industry with management degree apprenticeships

In answering the pressing questions of how current and future generations of managers can provide solutions to high-profile infrastructure projec... more >
Women in rail - is the industry on the right track?

12/03/2019Women in rail - is the industry on the right track?

RTM sits down with Samantha Smith, sole female member of the TransPennine Route Upgrade Alliance Leadership Team, to find out more about encourag... more >
TfN Strategic Transport Plan: not just for transport's sake

22/01/2019TfN Strategic Transport Plan: not just for transport's sake

Peter Molyneux, Transport for the North’s (TfN’s) strategic roads director, has been leading on the development of the seven economic... more >

last word

Encouraging youngsters to be safe on the railway

Encouraging youngsters to be safe on the railway

This summer, Arriva Group's CrossCountry and the Scout Association joined to launch a new partnership to promote rail safety among young people. ... more > more last word articles >

'the sleepers' daily blog

Making the railways safer and more reliable with Ze-Power

13/05/2019Making the railways safer and more reliable with Ze-Power

Professor Meiling Zhu, chair of mechanical engineering and head of the Energy Harvesting Research Group (EHRG) at the University of Exeter, intro... more >
read more blog posts from 'the sleeper' >

comment

The railway franchising model is broken, and passengers are paying the price

13/05/2019The railway franchising model is broken, and passengers are paying the price

Meg Hillier, MP for Hackney South and Shoreditch and chair of the Public Accounts Committee (PAC), gives her view on the state of the UK’s ... more >
NSAR: Tackling the digital skills shortage

13/05/2019NSAR: Tackling the digital skills shortage

The National Skills Academy for Rail (NSAR) chief executive Neil Robertson returns to write for RTM, this time, to assess the digital skills shor... more >
Delivering cost-effective electrification

13/05/2019Delivering cost-effective electrification

David Clarke, technical director of the Railway Industry Association (RIA), sets out the findings of a new report on how rail electrification can... more >
5G: An opportunity to revolutionise on-train connectivity

13/05/20195G: An opportunity to revolutionise on-train connectivity

Simon Holmes, group head of digital (engineering) at FirstGroup, introduces us to the 5G solution being delivered for the rail sector.  ... more >