Global law firm White & Case LLP has advised European rolling stock operating lessor Alpha Trains on the establishment of an investment grade €1.25bn common terms financing platform and the issuance of €350m 10 year bonds (expected maturity date) listed on the Luxembourg Stock Exchange, the raising of secured bank financing (€525m) and a senior (€250m) and junior (€125m) private placement offering, enabling Alpha Trains to refinance existing debt.
"The varying types of debt involved, as well as the large number of assets and the cross-border nature of the operation of the assets, meant that the financing and security package had to be carefully structured,” said White & Case partner Louise Mor. "The cross-border deal team, which was drawn from our asset finance, capital markets, M&A and derivatives practices and included lawyers from seven offices, was able to use its extensive experience to successfully deliver this corporate securitisation."
The firm advised on all aspects of the transaction, including structuring, due diligence, negotiation of the bond, private placement and debt documents, hedging documents, corporate matters and financial close.
The White & Case team was led by partner Louise Mor (London) and supported by partners Alison Weal (London), David Barwise (Singapore) and Andrew Weiler (London), counsel Sebastian Bruchwitz (Düsseldorf) and associates Laurence Coman (London), Kamran Ahmad (London), Julio Peralta (Madrid) and Jee Ha Kim (London).
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