Ashurst advises banking consortium on financing for locomotives lessor Nexrail

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    Ashurst advised an international banking consortium on a €322.2m financing for Nexrail, a rolling stock lessor. With ABN Amro Bank N.V., Crédit Agricole Corporate and Investment Bank, KfW IPEX-Bank GmbH, Landesbank Hessen-Thüringen Girozentrale, Coöperatieve Rabobank U.A., National Westminster Bank plc, La Banque Postale, SGBTCI S.A., Crédit Industriel et Commercial and BRED Banque Populaire, the consortium comprises ten banks from Germany, France, The Netherlands and UK. Crédit Agricole Corporate and Investment Bank also acted as facility agent and security trustee. The parties have agreed not to disclose further terms and conditions of the financing.

    Nexrail is a rolling stock lessor operating in Western Europe with InfraVia Capital Partners acting as sponsor. Its current portfolio of 100 locomotives is dedicated to the freight and shunting markets with clients located in Germany, France, Italy, Belgium and Luxembourg. Nexrail will use the funds primarily for the acquisition of new and more eco-friendly locomotives from manufacturer Vossloh Locomotives in its aim of transitioning the European rail market toward a zero-emission future.

    The Ashurst team was led by senior associate Dr Jan Ulrich Heinemann and partner Derk Opitz. They were assisted by senior associate Alexandra Heitmann, associate Tobias Bürk and transaction lawyer Angela Sieling, advice on English law was provided by counsel Gabrielle Metherall (all Global Loans). At the Luxembourg office, partner Fabien Debroise and counsel Katia Fettes (both Global Loans) were involved. At the Paris office, advice was provided by partner Pierre Roux (Banking) as well as senior associate Arnaud Conquis and associate Mickaël Bavier (both Global Loans).

    Ashurst's German banking and finance practice advises both banks and alternative lenders, private equity investors and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project finance as well as on financial restructuring and corporate lending.