In Germany a few Public Transport Authorities (PTAs) decided to become owners of the rolling stock for their domestic public transport services. This differs from the more standard approach to force the train operator to provide the trains and where many use ROSCOs to procure, finance and own these trains (majority in the UK, smaller and decreasing portion in Germany)
Whilst PTAs may benefit from sovereign ratings and can raise debt at lower cost, most setups are rather complex as such a guarantee is not directly available. Apex Rail tries to seek financing terms close to public risk and in compliance with the financing terms set out by the PTAs
TYPICAL SCOPE OF WORK FOR PUBLIC PASSENGER TRAIN POOLS
SCOPE OF WORK
Reviewing the regulatory environment within a PTA is allowed to finance their trains, which requires often collaboration with public procurement lawyers etc
Structuring the Financing around these conditions by seeking a strong credit and asset story despite a lack of direct recourse/guarantees to the public risk
Financing Auction using an Information Memorandum and/or Term Sheet
Evaluation
Supporting the approval process
Supporting documentation and negotiation process until financial closing
Interested in advice on public passenger train pools?
Financing of a new fleet of Stadler TramTrains, a new maintenance depot and refinancing of an existing depot where the VMS EMU and BEMU pool is maintained by Alstom.
International Sales and Project Management of rolling stock for Siemens Transportation
Developing and implementing operating and financial lease solutions for various rail asset classes across Europe incl. senior management roles in Angel Trains UK and Societe Generale
Setting up a new rail finance advisory business in 2012 leading to extensive track record as financial advisor and asset manager for a wide range of rail transactions accross Europe