Govia Thameslink Railway (GTR) won the tender to operate its replacement suburban train fleet on the Great Northern route.
Rock Rail won GTR’s competitive financing competition for the purchase of Siemens trains and closed the £300m transaction in February 2016 within 33 days of being awarded preferred financier status. Rock and partner SL Capital Partners provided equity investment and Aviva provided the debt investment.
The first of the 25 climate-controlled six-carriage units (150 vehicles) will enter service in 2018 and the fleet will replace the oldest type of electric train in operation in mainland Britain, the Class 313 trains built 1976-77.
The new trains will be a variant of the Class 700 Desiro City with many benefits:
Full width inter-vehicle gangways to create more space for the passenger
“Rock have successfully challenged the status quo of Rosco’s as the sole funding source for UK rolling stock, entered the market and delivered enhanced value to the passenger”
Sinead Walshe Associate Director Infrastructure Debt Fund Aviva Investors
“We have been particularly impressed with Rock's refusal to accept problems as insurmountable and their ability to anticipate potential issues and come up with a solution before their clients or funders have even realised that an issue exists.”
David Rose Director – Head of Advisory Operis
Rock Rail Moorgate - European Transit Deal of the Year 2016
Game Changers Awards 2017
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