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WFW advises Alpha Trains on €700m+ debt raise4 November 2019

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Watson Farley & Williams (“WFW”) has advised Alpha Trains on its raising of over €700m in a combination of secured bank debt and US private placement notes within its existing common terms financing platform.

The financing enables Alpha Trains to refinance existing debt, finance new build rolling stock and restructure the group by bringing its subsidiaries Alpha Trains TWN and Alpha Trains HWN into the financing platform. It also comprises a substantial Green element.

Alpha Trains is a Luxembourg-based rolling stock operating lessor active in 17 jurisdictions across Europe and with an existing portfolio of 363 locomotives and 432 multiple-unit trains.

The WFW team advising Alpha Train was led by London Asset Finance Partner Louise Mor, supported by Senior Associates Sarah Lunn and Emeline Yew, Associate Hollie Pickering and Trainees Andy Wilson and Guy Davis. Partners Frederik Lorenzen in Frankfurt, Alfredo Cabellos in Madrid, Mario D’Ovidio in Milan, Daniel Pilarski, Steve Hollander and Will Vogel in New York and Philippe Wolanski in Paris led the teams providing local law advice and expertise in their jurisdictions

Louise commented: “We are delighted to have advised Alpha Trains on this complex, multi-jurisdictional transaction.  That we were able to leverage our extensive rail experience across multiple service lines to bring the deal to a successful close demonstrates our growing reputation as leading legal advisors to the sector”.

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