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| Porterbrook Issues Corporate Bonds | ||
11.06.2010 The proceeds of this initial issuance have been used to prepay certain senior term loans which Porterbrook entered into in 2008 following its acquisition by the current owners, a consortium led by Deutsche Bank AG. The initial dealers in respect of the bond programme were Barclays Bank Plc, BNP Paribas, Crédit Agricole Corporate & Investment Bank, Lloyds TSB Bank plc and The Royal Bank of Scotland plc. The senior lenders involved in the bank refinancing were Abbey National Treasury Services plc, Barclays Bank plc, BNP Paribas, London Branch, Crédit Agricole Corporate & Investment Bank, Commonwealth Bank of Australia, Dexia Credit Local, London Branch, Lloyds TSB Bank plc, Lombard North Central plc and Sumitomo Mitsui Banking Corporation. The issue was rated BBB by Standard & Poor's. |
Paul Francis, Managing Director for Porterbrook said “Porterbrook management and shareholders are delighted to have successfully issued sterling bonds in what have been difficult market conditions. The bond issue secures long term funding for a sizable part of the business which allows the company to plan and execute the long term strategy of developing its rolling stock assets. The bond issue was executed professionally and Porterbrook recognise the contribution made by all the dealers and banks as well as our advisers J.P. Morgan and Milbank”
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Porterbrook Leasing Mid Company Limited (Registration No. 7007965), Porterbrook Leasing Company Limited (Registration No. 2912662), Porterbrook Maintenance Limited (Registration No. 3657463), Porterbrook Leasing Asset Company Limited (Registration No. 635030), Porterbrook March Leasing (4) Limited (Registration No. 2682768) are registered in England and wales. VAT Registration No. 927439496. Registered Office Burdett House, Becket Street, Derby, DE1 1JP.
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