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Greenberg Traurig Represents Investors in Landmark Refinancing of one of the UK’s Leading Train Leasing Companies

CHICAGO – Dec. 6, 2019 – Global law firm Greenberg Traurig, LLP represented institutional investors in a landmark private placement refinancing of £250 million senior secured notes issued by Porterbrook, one of the UK’s leading train leasing companies. The Greenberg Traurig team included Corporate Practice shareholder Charles J. Kolin, of counsel Alejandra Garcia Earley, and associate Christopher Lapp.

According to its press release dated Nov. 1, Porterbrook refinanced its October 2020 public bond with a mix of existing and new investors in a dual issuance funding sourced from the Private Placement and Samurai markets. A £100 million Samurai Loan was raised from a syndicate of four institutional investors in conjunction with a £150 million Private Placement, issued under Porterbrook’s Green Framework. Porterbrook is the first UK rolling stock leasing company to raise a Samurai loan and issue a Green Private Placement, its release noted. The agents on the transaction were MUFG Securities Americas Inc., Credit Agricole Securities (USA) Inc., and Lloyds Securities, Inc. 

“This very successful issuance highlights the importance of the UK’s rail sector – an area where we expect to see continued growth in the coming years. The private placement market continues to be a long-term capital financing solution for long useful-life assets,” Kolin said.

“We were thrilled to have advised the investors in this innovative financing structure that supports the UK and the rail industry,” Garcia Earley said.

About Greenberg Traurig’s Corporate Practice: Greenberg Traurig’s Corporate Practice comprises more than 450 lawyers in the United States, Europe, Asia, the Middle East and Latin America who regularly advise public and privately held companies, entrepreneurs and investment funds on global mergers and acquisitions, corporate restructurings, private equity and venture capital, underwritten and syndicated offerings, commercial finance and syndicated lending, cross-border transactions, and general corporate matters.

About Greenberg Traurig: Greenberg Traurig, LLP (GT) has approximately 2100 attorneys in 41 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 20 on the Am Law Global 100. Web: Twitter: @GT_Law.