<p><strong>£885m bank refinancing recognised by Global Transport Finance</strong></p>
<p>Porterbrook, the rolling stock asset management company, is delighted to announce that the successful £885m refinancing of its bank facilities has won the prestigious 2018 Rail Lessor Refinancing Deal of the Year from Global Transport Finance. The £885m transaction was closed in June 2018 and included both drawn and undrawn senior debt and associated hedging. The refinancing was supported by a group of leading UK and International banks at significantly improved margins. Rothschild acted as financial adviser and Milbank, Tweed, Hadley &amp; McCloy LLP as borrower counsel. Ashurst LLP acted as lender counsel.</p>
<p>Stefan Rose, Head of Structured Finance at Porterbrook, said:</p>
<p>“The successful refinancing of Porterbrook’s bank facilities in 2018 underlines the company’s attractiveness to debt investors and we are delighted that this has been recognised by the industry with this leading award in the transport leasing sector. Porterbrook is committed to remaining at the forefront of developments in the financing market and delivering attractive and innovative solutions. 2018 was a landmark year for Porterbrook raising over £1 billion in debt facilities across the successful refinancing of our bank facilities and our 2019 public bond maturity in the USPP market. With the strong support of our banking group and the institutional investor market we are well placed to continue investing in new rolling stock and upgrading our existing portfolio supported by our market leading asset-management offering.”</p>
<p><strong>ENDS</strong></p>
<p><strong>NOTES TO EDITORS</strong></p>
<p>Media Contacts</p>
<p>Porterbrook Leasing Rupert Brennan Brown, Head of Communications and Engagement Rupert@porterbrook.co.uk or +44 (0)7973 950 923</p>
<p>Financial or corporate PR enquiries can also be directed to: Maitland James Isola, Partner jisola@maitland.co.uk James McFarlane, Partner jmcfarlane@maitland.co.uk or +44 (0)20 7379 5151</p>
<p><strong>About Porterbrook</strong></p>
<ul><li>Porterbrook Leasing Company Limited ("Porterbrook") is a leading participant in the rail leasing market and has a rolling stock fleet of around 5,000 vehicles on lease or on order, which includes c.4,500 passenger vehicles.</li><li>Since privatisation, Porterbrook has invested over £3bn in the UK rail market. The company is looking to invest a further £1bn in Britain’s railway over the next five years.</li><li>Porterbrook has successfully introduced over 2,300 new vehicles into passenger service. The company continues to invest across its existing fleets to ensure they remain attractive to operators and passengers. Porterbrook also provides ongoing train maintenance services.</li><li>In October 2014, the Porterbrook Group of companies was acquired by a consortium of investors including Alberta Investment Management Corporation (“AIMCo”), Allianz Capital Partners (“ACP”) on behalf of certain insurance companies of the Allianz Group, EDF Invest and a consortium of Utilities Trust of Australia (“UTA”), The Infrastructure Fund (“TIF”) and Royal Bank of Scotland Group Pension Fund (“RBS”).</li></ul>