East Anglia Franchise Reaches Financial Close
Rock Rail reaches financial close on the £600m financing of new Stadler trains for the Abellio East Anglia franchise. The transaction was led by Rock Rail and SL Capital (part of Standard Life Investments) with additional co-investment equity being provided by GLIL, the Greater Manchester Pension Fund and London Pensions Fund Authority infrastructure investment joint venture.
The senior debt was provided by Aviva, Legal & General, Massachusetts Mutual Life Insurance Company, Sun Life, Standard Life and the European Investment Bank.
Operis acted as financial advisor and model auditor to Rock Rail. This is the second rolling stock deal that Operis has advised Rock Rail on following on from the Moorgate deal with Govia Thameslink Railway in February 2016.