Milbank Advises UK ROSCO Porterbrook in £885M Refinancing

Milbank LLP advised Porterbrook in connection with its £885 million refinancing of its existing bank facilities.

Porterbrook is one of the three major Rolling Stock Operating Companies (ROSCOs) in the United Kingdom and is currently owned by a consortium of investors including Alberta Investment Management Corporation, Allianz Capital Partners, EDF Invest and Hastings Fund Management. The transaction, which closed on 27th June 2018, includes drawn and undrawn senior debt raised from a syndicate of UK and international banks.

The Milbank team was led by London Global Leveraged Finance/Capital Markets partners Suhrud Mehta and Alexandra Grant, with associates Danielle Brown and Tom Neilson, and trainee solicitor Will Cusack. The Milbank team also included Alternative Investments partner James Warbey, senior associate Jennifer Ellis, and trainee solicitor Amy Bradley.