The London Transport Museum served as the perfect venue to celebrate the successful financial close of the deal for procurement and delivery of rolling stock on the Abellio East Anglia Franchise last month. Rock Rail and SL Capital (part of Standard Life Investments), were joined by guests from over 30 different organisations involved in the bid process and who supported Rock Rail in reaching financial close.
Guests from co- equity investor GLIL, (the Greater Manchester Pension Fund and London Pensions Fund Authority infrastructure investment joint venture), train operating company Abellio and train manufacturer Stadler, as well as representatives from the senior debt providers and many advisors attended and helped mark the occasion.
The successful closure of the deal is the second to be completed by Rock Rail this year and reflects a new approach to funding rolling stock in the UK, offering financial institutions an opportunity to invest in core rail infrastructure while also generating better value for money for the government, the tax payer and passenger alike.
Rock Rail East Anglia PLC has been set up to procure and then lease the trains, and the 378 EMU and Bi-mode vehicles will start to enter service from May 2019.