Watson Farley & Williams (“WFW”) advised ING Bank N.V. (“ING”) as mandated lead arranger, facility agent, security agent and account bank on a €375m debt refinancing and new capex facility for ITE Management L.P. (“ITE”)’s European rail financing platform, enabling it to finance the expansion and modernisation of its European rail wagon fleet.
ING is a global financial institution with a strong European base, serving large corporations, multinationals and financial institutions in over 40 countries.
ITE’s rail fund holds one of North America’s largest rolling stock lessors. With a fleet of approximately 122,000 railcars, it is actively expanding its presence in Europe.
The cross-border WFW Transport team that advised ING was led by London Assets and Structured Finance Partner Louise Mor, supported by Frankfurt Partner Frederik Lorenzen, Paris Partner Philippe Monfort and London Associate Ada Hung.
Louise commented: “We’re pleased to have advised ING on this significant debt refinancing for ITE, which advances their sustainability goals. Instructions of this nature underscore WFW’s expertise in cross-border transport finance and the continued importance of rail logistics across Europe”.
