Centrus advises Corelink on the leasing of rolling stock to West Midlands franchise

Overview

Corelink Rail Infrastructure Limited, a rolling stock lessor established by a joint venture of funds managed by Deutsche Asset Management and Infracapital, has agreed to purchase £681m of rolling stock for use on the West Midlands rail franchise in England.

The rolling stock order comprises two new electric multiple unit fleets to be built by Bombardier and one new diesel multiple unit fleet built by CAF. The units are scheduled to start entering service from 2020 onwards.

Our Role

Centrus acted as commercial adviser to Corelink Rail during the bid process providing the following services

• Advising Corelink Rail on the background to the UK rail franchise system together with the corresponding Government regulatory framework
• Support with the raising of funds in the short term commercial debt and long-term PP markets
• The evaluation of potential interest rate and currency hedging solutions for the underlying financing
• Assistance with the negotiation and closing of the transaction documents

Centrus is also acting as interim lease manager of the fleets.

For more information, please contact london@centrusadvisors.com

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