Starting news article english 11 August 2011

Clifford Chance advises Eurostar on Euro 550m fleet financing

International law firm Clifford Chance has advised longstanding Eurostar on the Euro550m financing of its new fleet of high speed trains.

The transaction saw a syndicate of international banks led by Credit Agricole join with the European Investment Bank to co-finance a multicurrency loan facility for Eurostar to help finance an order for new e320 trainsets placed by Eurostar with Siemens last year.

Eurostar was supported by Clifford Chance teams in London, Paris and Brussels.

Gavin Teague, lead partner, comments: "This is Eurostar's debut secured debt financing, and its first since the completion of its corporate reorganisation in 2010. We are delighted to have been able to assist the Company complete this landmark transaction."

Clifford Chance has advised Eurostar since 1993, and most recently on its international corporate reorganisation, which completed in 2010.

Contacts London: Gavin Teague (lead partner) Alex Nourry (antitrust), David Harkness (tax) and David Griffiths (corporate); Paris: Daniel Zerbib; Brussels: Yves Herinckx