White & Case advises on Rail First Asset Management Acquisition Financing

Global law firm White & Case LLP has advised ING Bank (Australia) Limited, Norddeutsche Landesbank Girozentrale, Singapore Branch (Nord/LB) and Siemens Bank GmbH, Singapore Branch as mandated lead arrangers, underwriters and bookrunners (MLAUBs) on the senior debt facilities for the acquisition of Australian rollingstock leasing company Rail First Asset Management (Rail First), which will be acquired jointly by Amber Infrastructure Group and DIF Capital Partners.

“Amber Infrastructure Group and DIF Capital Partners have secured a high quality growth asset in a unique asset class in Australia,” said White & Case partner Joel Rennie who led the Firm’s deal team. “The Sponsors and MLAUBs drew on recent European experience in this asset class in order to structure and achieve a successful outcome that strongly positions the business for its next phase of growth”.

The debt facilities will be used to partly fund the acquisition, as well as fund Rail First’s ongoing capital expenditure requirements.

Rail First, a supplier of integrated rollingstock and maintenance to the rail industry, owns approximately 1,300 locomotives and wagons, with workshops in Islington (South Australia) and Goulburn (NSW).

The White & Case team which advised on the transaction was led by partner Joel Rennie (Sydney) and included partners Cameron Watson (Sydney) and Caroline Sherrell (London), supported by associate Matthew Weetman (Sydney).

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