Stevens & Bolton has advised Rock Rail, an investor-developer of rolling stock and other rail infrastructure, on the £350 million financing of new Hitachi intercity trains for the West Coast Partnership rail franchise.
The new state-of-the-art fleet will start operating in 2022, serving one of the UK’s busiest rail lines connecting the North West of England, North Wales, the Midlands and London. The fleet will be financed through Rock Rail West Coast plc and leased to West Coast Partnership, as a joint venture between First Group and Trenitalia.
This latest deal is the fifth Rock Rail rolling stock deal on which Stevens & Bolton has provided support, including the East Midlands, South Western and East Anglia rail franchise projects.
The Stevens & Bolton team was led by corporate partner Richard Baxter, support by James Floyd (corporate) and Andrew Dodds (finance).