Milbank Advises Porterbrook Rail Finance Limited on a Sustainability-linked Refinancing

Milbank LLP advised Porterbrook Rail Finance Limited (one of the three major rolling stock leasing companies in the UK) on the refinancing of an existing facility with a new sustainability-linked £500M revolving credit facility. NatWest acted as a loan coordinator, with CIBC advising on sustainability. The sustainability-linked pricing will ensure Porterbrook’s financial strategy is more closely aligned to its ESG goals.

The Milbank team was led by European Leveraged Finance/Capital Markets partner Alexandra Grant and included associates Tom Neilson and George Williams, with tax assistance from partner Russell Jacobs and special counsel Andrew Callaghan.