Railpool’s €1.07 Billion Syndicated Debt Financing

Watson Farley & Williams has advised a syndicate of lenders and noteholders led by KfW IPEX-Bank GmbH. CMS advise Railpool.

A syndicate of lenders and noteholders led by KfW IPEX-Bank GmbH provided a €1.07bn financing provided to rolling stock lessor Railpool in a combination of secured bank debt and European private placement notes within its existing common terms financing platform. Crédit Agricole Corporate and Investment Bank was acting as sole debt advisor, sole green advisor and sole placement agent.

The financing will allow Railpool to both refinance part of its existing debt and finance new build rolling stock as well as working capital.

German-based Railpool is one of Europe’s largest rolling stock lessors operating 400+ electric locomotives and 148 passenger vehicles across 17 European countries and an investment total of €1.6bn.

KfW IPEX-Bank is responsible for international project and export finance within the KfW Group, one of the world’s leading promotional banks, based in Frankfurt, Germany.

The WFW Frankfurt Assets & Structured Finance team advising KfW IPEX-Bank was led by Partner Frederik Lorenzen (Picture), supported by Senior Associates Alexander Piepenbrock and Sofia Tzanaki, Associate Alejandra Hagedorn and Trainee Marili Haraka. The team worked closely with London Asset Finance Partner Louise Mor, Frankfurt Capital Markets Partner Dr Sebastian Wulff and Hamburg Tax Partner Verena Scheibe, the latter supported by Associate Manuel Rustler.

The CMS team was led by Dr Marc Riede, Partner, and Dr Julia Runge, Principal Counsel, both Hamburg and also included Nicolai Bischof, Senior Associate, Hamburg, all Banking & Finance; Dr Olaf Thießen, Principal Counsel, Hamburg, Tax; Dr Justus Jürgensen, Associate, Hamburg, Corporate/M&A; Gérard Maitrejean, Partner; Zornitsa Dimitrova, Counsel; Johann Parmantier, Senior Associate and Miruna Poenaru, Senior Associate.

Involved fees earner: Nicolai Bischof – CMS Hasche Sigle; Justus Jürgensen – CMS Hasche Sigle; Marc Riede – CMS Hasche Sigle; Julia Runge – CMS Hasche Sigle; Olaf Thießen – CMS Hasche Sigle; Zornitsa Dimitrova – CMS Luxembourg; Gérard Maitrejean – CMS Luxembourg; Johann Parmantier – CMS Luxembourg; Miruna Poenaru – CMS Luxembourg; Alejandra Hagedorn – Watson Farley & Williams; Frederik Lorenzen – Watson Farley & Williams; Louise Mor – Watson Farley & Williams; Alexander Piepenbrock – Watson Farley & Williams; Manuel Rustler – Watson Farley & Williams; Verena Scheibe – Watson Farley & Williams; Sofia Tzanaki – Watson Farley & Williams; Sebastian Wulff – Watson Farley & Williams;

Law Firms: CMS Hasche Sigle; CMS Luxembourg; Watson Farley & Williams;

Clients: KfW IPEX-Bank GmbH; Railpool;

Giulia Di Palma

Author: Giulia Di Palma