LGIM Real Assets will invest more than £350 million ($475 million) toward improving U.K. train services.
Having now completed four rolling stock deals, committing a total of more than £550 million ($747 million) of investment to date to the sector, these latest transactions form part of Legal & General’s continued commitment to increasing its exposure to transport infrastructure.
Legal & General is helping to finance a fleet of 665 Bombardier Aventra trains that will be leased to Abellio East Anglia franchise starting in 2019. The £183 million ($248 million) long-term debt investment by LGIM Real Assets, on behalf of clients including Legal & General Retirement (LGR), is part of a total £835 million ($1.13 billion) commitment made from a group of lenders to finance this fleet for Angel Trains Group, outside of the credit-rated group. Angel Trains Group is one of Britain’s train leasing companies. The new fleet of Bombardier Aventra vehicles will hel