Herbert Smith has advised London & Continental Railways (LCR) on its £1.25bn securitisation, while also advising the client on a £300m dual-loan refinancing.
The firm has a long-standing relationship with the client that it first cemented in 1995 when it advised on the formation of a rail link from the Channel Tunnel exit in Kent to St Pancras Station in London.
Herbert Smith advised LCR on its issue of £1.25bn of securities, long-dated Sterling fixed-rate and index-linked bonds, through its subsidiary CTRL Section 1 Finance. The receivables are payable directly by – or guaranteed by – the Government.
