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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