Bird & Bird advises RIVE on an additional €270 million bank financing
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International law firm Bird & Bird has advised RIVE Private Investment, an independent European investment firm specialised in transportation assets and energy transition, on structuring an additional €270 million senior financing under a Growth Facility, secured in October 2023 totalling €570 million.
The financing will further support the growth of the RIVE/Northrail rolling stock leasing platform, enabling it to acquire over 100 additional locomotives secured under various existing framework purchase agreements signed with leading manufacturers Siemens, Alstom and Vossloh Rolling Stock. Upon their delivery, between 2025 and 2028, these electric, hybrid and dual-mode locomotives will be leased to European rail freight operators and managed by Northrail, a leading leasing provider and asset manager of rolling stock in Europe, acquired by RIVE in 2024.
The CAPEX facility is provided by a bank pool consisting of KfW IPEX-Bank (also acting as Facility and Security Agent), Crédit Agricole Corporate and Investment Bank, Société Générale, and Siemens Financial Services through Siemens Bank as historical lenders, alongside Crédit Industriel et Commercial, Deutsche Bank, Helaba and La Banque Postale joining the consortium.
RIVE and Northrail continue to support clients in renewing and growing their fleet towards a more sustainable business model, as well as manufacturers in the development of innovative products fostering the decarbonisation of the sector.
RIVE Private Investment was advised by the following Bird & Bird lawyers: Partners Sebastian Bergenthal, LL.M. (lead), Dr. Matthias Winter and associates Freya Ahrens and Simon Schulz (all Finance & Financial Regulation, Frankfurt).
Background: Bird & Bird has already advised RIVE on the underlying structuring of the 300 million euros financing platform in October 2023.