Rolling stock lessor Angel Trains Group has
issued a £400 million (€455m) long-term amortising bond as part of
its debt management programme, through its subsidiary The Great
Rolling Stock Company Ltd.
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
management 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 advisor, and the transaction was executed by BNP Paribas,
Lloyds Bank Corporate Markets, RBC Capital Markets and
RBS.
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By GlobalDataclaire.hack@vrlfinancialnews.com
