Ashurst advised a syndicate of 11 banks on the £885m of refinancing facilities made available to UK rolling stock company, Porterbrook. Ashurst has a longstanding history advising on Porterbrook's loan facilities, having acted for the lenders on the original facilities in 2008 and on subsequent refinancings since that date.

Porterbrook is one of the three major rolling stock companies in the UK and since 2014 has been owned by a consortium of investors including Alberta Investment Management Corporation, Allianz Capital Partners, EDF Invest and Hastings Fund Management. 

The Ashurst team was led by Global Loans partners Nigel Ward and Laura Ho, assisted by associate Elizabeth Ogle. Partner Nicholas Gardner, assisted by solicitor Martin Voelker provided tax advice, and Global Markets partner James Knight together with associate Yuyi Yao advised the hedging desks on the hedging aspects of the transactions.