On December 5, 2019, Rock Rail reached financial close on the £350m financing of Hitachi intercity trains based on bullet train technology. The new fleet consists of 135 vehicles comprising both electric trains and electric-diesel bi-mode trains. The trains will be built by Hitachi at their Newton Aycliffe factory in North-East England and are scheduled to enter service in 2022. They will be quieter and greener than the diesel trains that they replace and are expected to reduce carbon emissions by 61%.

The trains will run on the West Coast Partnership franchise, run by a joint venture between First Group and Trenitalia operating as Avanti West Coast. Avanti will take over the services previously run by Virgin Trains and servicing routes connecting London, the Midlands, North Wales and the North-West of England.

The equity for the project will be provided by Aberdeen Standard Investments and Rock Rail. The senior debt will be provided by Aviva Investors and Sun Life Investments.

Operis acted as financial modelling advisor to the sponsors and an independent Operis team acted as model auditor on behalf of the senior lenders. This is the fifth project that Operis has advised the Rock Rail team (and the fourth advising Rock Rail and Aberdeen Standard) and we are delighted to be able to continue to support them.

CONTACT US

Please get in touch with either of our regional offices.

https://www.operis.com/wp-content/uploads/2021/01/Erwan-Fournis-500x500.png
Erwan Fournis
Global Head of Financial Advisory

+44 207 562 0444

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/05/Carmen-Wade-500x500.jpg
Carmen Wade
Financial Advisory, Head of North America

+1 647 243 3840

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/03/Jun-Tao-500x500.png
Jun Tao
Global Head of Model Audit & Financial Modelling

+44 207 562 0428

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/04/Mark-Southall-500x500.png
Mark Southall
Associate Director - Model Audit & Financial Modelling

+1 647 846 7384

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/05/Philip-Allen-500x500.jpg
Philip Allen
Head of Training [javascript protected email address]

Operis Europe

View Google Map
+44 207 562 0400
[javascript protected email address]

Operis North America

View Google Map
+1 647 846 7382
[javascript protected email address]

CONTACT US

Discuss your requirements with us

https://www.operis.com/wp-content/uploads/2021/01/Erwan-Fournis-500x500.png
Erwan Fournis
Global Head of Financial Advisory

+44 207 562 0444

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/03/Chirs-Aldred-500x500.png
Chris Aldred
Director

+44 207 562 0433

[javascript protected email address]
Name(Required)
Consent(Required)
This field is for validation purposes and should be left unchanged.