Porterbrook signs £300m Private Placement

Porterbrook, the UK’s leading rolling stock financier and asset management company, is delighted to announce the successful signing of its c.£300m equivalent Private Placement.

The transaction, which includes 14 investors of which 6 are new lenders, has enabled the company to extend its debt maturity profile at attractive pricing. The proceeds will be used to refinance the October 2026 £270m public bond.

Rees Sutton, Director of Financing and Investments, said: “Today’s successful signing underpins our ability to invest in the future of this important industry. It highlights the clear appeal of the UK railway to both existing and new investors, and their strong appetite to lend against stable, long-term assets.”

Porterbrook owns a quarter of the national passenger rail fleet. In recent years the business has significantly diversified its portfolio including taking ownership of and significantly upgrading the Long Marston Rail Innovation Centre, taking a 49% stake in Brodie Engineering in Kilmarnock, and financing the redevelopment of Bletchley Train Maintenance Depot for West Midland Trains.

The Notes were issued by Porterbrook Rail Finance Limited and rated Baa2 by Moody’s.