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K&L Gates Advises Rock Rail Holdings Limited and Infracapital on Next Regional Passenger Rail Project on the Mitteldeutsche S-Bahn Network in Germany

17 May 2024

Frankfurt – Global law firm K&L Gates LLP has again advised Rock Rail Holdings Limited and Infracapital on the conclusion of an operating lease agreement for 41 brand-new Siemens Mireo electric regional trains, and the associated project agreements. Following the commissioning of Die Länderbahn GmbH DLB by several public transport authorities under the leadership of the Zweckverband für den Nahverkehrsraum Leipzig to operate the MDSB 2025+ Lot 2, the lease financing has now also been successfully concluded. K&L Gates last advised Rock Rail Holding and Infracapital in January on Lot 1 of the MDSB2025+.

The trains will be acquired by Rock Rail MDSB 2 Limited as lessor and leased to the Länderbahn for 12 years starting from the timetable change 2026/2027 for the provision of the transport services on the Mitteldeutsche S-Bahn Los 2 transport network. Financing is provided by equity from Infracapital and Rock Rail and debt financing from various European infrastructure debt investors arranged by MEAG.

The project was led by Frankfurt partner Dr. Frank Thomas and counsel Anne Thümmel-Barz (both banking and asset finance). The K&L Gates team also included partners Dr. Christian Hullmann (public law), Christoph Mank (corporate and commercial), and Volker Gattringer (commercial) along with senior associate Patrick Glück (banking and finance).

Rock Rail Holdings Limited is a UK-based independent developer, owner, asset manager and lessor of rolling stock and other rail infrastructure established in 2014. Since 2016, the company has acquired more than £4 billion of rail assets.

Infracapital is a leading European infrastructure investor, investing in, building, and managing a diverse range of essential infrastructure. Infracapital is part of M&G Plc, an international savings and investments business, managing money for around five million retail customers and more than 900 institutional clients in 38 offices worldwide markets. Total assets under management are £343.5 billion (as of 31 December 2023).

K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.

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