Rolling stock
lessor Angel Trains Group has issued a £400m (€452.6m) long-term
amortising bond as part of its debt refinancing programme, through
its subsidiary The Great Rolling Stock Company.
The proceeds from the
issuance will be used to refinance partially the existing senior
bank debt, providing Angel Trains with a stable, long-term
financial base. It follows a successful £800m transaction last
year.
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George Lynn, chief financial
officer of London-headquartered Angel Trains, said: “We are
delighted to be able to issue this bond, particularly given the
continuing volatile corporate market conditions.
“The issue is a key part of
our long-term debt refinancing programme and strengthens the
company by diversifying our sources of finance and our debt
maturity profile.”
Malcolm Brown, chief
executive officer of Angel Trains, added: “This helps Angel Trains
maintain a strong platform from which we can continue to play an
active role in the rail industry.”
Goldman Sachs International was the sole financial adviser
on the debt refinance, and the transaction was executed by BNP
Paribas, Lloyds Bank Corporate Markets, RBC Capital Markets and the
Royal Bank of Scotland.
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