HSH Nordbank finances landmark PPP project in the United Kingdom

Banking, Finance — By on July 5, 2013 at 12:41 PM

 

Dr. Marcus Kleiner

Dr. Marcus Kleiner

HAMBURG/KIEL HSH Nordbank AG is participating as Lead Arranger in the financing of the Thameslink Rolling Stock Project, providing state-of-the art rail carriages for routes in and around London. The total project financing for the availability-driven PPP project is about GBP 1.6 billion and has a 22.5 year maturity.

HSH Nordbank committed approx. 7.5 percent of the commercial term loan financing. The credit facility enables the procurement and operation of 1, 140 railway cars, which will be supplied by Siemens following a competitive tender process by the UK’s Department of Transport.

The Thameslink Programme will create a new high capacity, high frequency service of longer trains across central London. It will also link together new routes, in particular the East Coast Mainline with the Thameslink route at St Pancras International.

“The successful realisation of this important PPP project, which is also a landmark transac-tion in the United Kingdom, enjoys high public interest and intensive support by the British government. As a leading financer of complex infrastructure projects in Europe, we draw on deep sector know-how as well as experience in finding solutions to complex PPP projects, in turn allowing us to make a significant contribution to the project’s success, ” said Marcus Kleiner, Head of Origination Infrastructure & Rail at HSH Nordbank.

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