Asset Finance: Rail Finance | UK

Bryan Cave Leighton Paisner has a strong rail finance practice with specialist expertise in rolling stock financing deals for ROSCOs, and is particularly noted for its considerable cross-border strengths. The firm also has experience advising clients, including banks, manufacturers and airlines, on a full range of aviation finance matters including the acquisition, disposal and leasing of fleets.

On 1st May 2024, Allen & Overy and Shearman & Sterling merged to form A&O Shearman. The firm has a market-leading asset finance practice with outstanding capability across aviation, shipping and rail finance matters. The firm advises clients on sophisticated structures, including EETCs, JOLCOs and ECA-backed bonds. It regularly works with banks and corporates on industry-leading deals. The firm is acclaimed for its well-rounded practice and its ability to provide parallel services relating to tax, litigation and restructuring. It is adept at handling AFIC structured financing products in the aviation sector.

Burges Salmon is a Bristol-based practice with experience working alongside train operating companies and financiers on a variety of rolling stock finance issues. The firm is noted for its work on operating leases and rolling stock acquisition. It stands out for its expertise in franchising and for its advice to clients on bidding processes.

Clifford Chance has a go-to practice for aviation finance matters, with additional capability on rail-related transactions. The team works with global aviation clients in complex ECA-supported financings, portfolio transfers and bank financings. The rail team works with government agencies, manufacturers and operators on large rolling stock and infrastructure deals. It draws support from the firm's extensive expertise in complementary areas such as tax, litigation and insolvency to provide a one-stop shop to clients.

Norton Rose Fulbright houses a deep bench of practitioners who provide leading expertise in shipping finance, and significant ability in rail and aviation financing matters. The firm regularly acts for clients, including banks, financial institutions, ship owners, airlines and ROSCOs, on complex cross-border deals, including EETCs, JOLCOs and portfolio transactions. It has developed a market-leading practice in rolling stock franchising and train procurement. The firm also offers expertise regarding the AFIC aircraft non-payment insurance product.

Addleshaw Goddard advised ScotRail Trains on its rolling stock procurement programme. The team advised on all aspects of the transactions, including the manufacturing contracts, leasing and maintenance of rolling stock.

Stephenson Harwood has an impressive asset finance practice with ability across shipping, rail and aviation matters. The firm's notable rail finance practice advises on rolling stock procurement and leasing structures. It handles strong shipping finance work with international banks and ship owners on tax leasing, restructurings and ship sale and purchase. The firm's experience in aviation deals includes financing for commercial aircraft and corporate jets. It is also noted for its counsel on complex plant and machinery financings.