Angel Trains Group is very pleased to announce that it has priced and signed £125m of new junior debt. The transaction was directly arranged by Angel Trains on a fixed-rate basis and it has a delayed draw with a final maturity in 2027. The new junior debt will refinance £125m of existing junior debt which was also repaid in full today.
Additionally, the strong liquidity position of the senior ring-fence group, which has resulted from previous financings, means that no new debt is required to repay the 2020 £300m public bond as it has already been refinanced on competitive terms and well ahead of schedule.
Alan Lowe, CFO of Angel Trains, said “We are very pleased to have executed this new debt which will further optimise our group debt facilities. Our debt structure is well diversified with an appropriate maturity whilst refinance risk has been mitigated for the foreseeable future. Angel Trains remains in a strong position to invest further to grow its portfolio and remain the leading lessor of passenger rolling stock in the UK.”