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.”

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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.

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