Watson Farley & Williams (“WFW”) advised Nexrail on the purchase agreement and green loan financing of its order of up to 200 EURO9000 panto-battery hybrid locomotives from Stadler Rail AG (“Stadler”).
The Euro 9000b combines pantograph power with high-performance battery power to offer the first mainline locomotive which allows for zero-emission transport from terminal to terminal. The first deliveries are scheduled for 2029, with the launching customer being Hamburger Rail Service GmbH & Co. KG.
Nexrail raised a new €204m green capex facility to finance the locomotives while amending and extending its existing €322m bank facilities.
Headquartered in Luxembourg, Nexrail is a leading European locomotive leasing company dedicated to supporting the transition of rail freight towards zero-emission traction. It is owned by funds managed by InfraVia Capital Partners.
Stadler is a Swiss provider of mobility solutions in rail vehicle construction, service and signalling technology.
The cross-border WFW Transport team that advised Nexrail across both the purchase agreement and financing package was led by Frankfurt Assets and Structured Finance Partner Frederik Lorenzen and London Assets and Structured Finance Partner Louise Mor, supported by Madrid Partner Alfredo Cabellos, Paris Partner Philippe Monfort, Frankfurt Counsel Andrey Latyshev and London Associates Alex Kyriacou and Henry Stevenson.
Frederik commented: “We’re delighted to have advised Nexrail on such a significant transaction, increasing its inventory of hybrid locomotives”.
Louise added: “It is a pleasure to continue our working relationship with the Nexrail team. Being instructed on matters such as this reflects WFW’s full-service capabilities in the transport sector, as well as the firm’s commitment to sustainable mobility”.
