Bank of China contributes £75 million GBP to a £450 million GBP term loan tranche of a £600 million GBP syndicated loan for the Angel Trains 2021 Refinancing Project

Project narrative

On December 17, 2021, financial close was reached on a deal in which a syndicate of six banks — including the Bank of China (BOC) — entered into a £600 million GBP ($799.58 million USD) syndicated senior loan agreement with Angel Trains Limited, a British rolling stock company, for the Angel Trains 2021 Refinancing Project. This loan carried a maturity period of 10 years and a final maturity date of December 17, 2031. It was divided into two tranches: a £450 million GBP term loan ($599.69 million USD) and a £150 million GBP ($199.90 million USD). The proceeds were to be used by the borrower for general corporate purposes, including the potential repayment of existing shorter-dated debt. All six lenders, including BOC, contributed £75 million GBP ($99.95 million USD) to the £450 million GBP term loan. In addition to BOC, the following lenders contributed to the loan syndicate: Sumitomo Mitsui Banking Corporation (SMBC), Royal Bank of Scotland (RBS), Toronto-Dominion Bank (TD Bank), Export Development Canada (EDC), CaixaBank, S.A. SMBC and RBS each contributed to £75 million GBP to the £150 million GBP term loan.