LUXEMBOURG: Rolling stock leasing company Alpha Trains has refinanced some of its existing bank debt and secured further bank funds with a total volume of over €500m, as well as raising an additional €200m through a US private placement. This includes €140m of green bank financing, which is being used to fund the purchase of 24 Stadler multiple-units and 14 Siemens locomotives for lease under long-term contracts.
Another 13 Stadler trainsets operating under long-term concessions since 2017 -18 have been integrated its ring-fenced financing platform.
‘We are delighted to hear that we are the first ROSCO in Europe which has developed and published a green finance framework that is fully aligned with the green bond and green loan principles’, said Group Investment Funding Director Bernhard Holzer. ‘This framework was used for our combined green loan and green notes financing and verified by Sustainalytics, whilst the Climate Bond Initiative has certified the green finance transaction.’
CEO Shaun Mills said the ‘complex’ financing had attracted very high interest from existing and new lenders, with the US private placement more than doubling its existing investor base.
The transaction was arranged by Crédit Agricole Corporate & Investment Bank and Santander as financial advisors and PP joint placement agents.
Watson Farley & Williams advised Alpha Trains, Allen & Overy advised the lenders and Loyens & Loeff provided legal advice.