Latham Advises on ELL’s €1.4 Billion Long-Term Financing

Latham & Watkins has advised the funders comprised of 14 international banks and seven institution investors on the €1.4 billion investment grade long-term debt platform financing for ELL, Europe’s leading electric locomotive lessor. The financing will extend ELL’s debt maturity profile and provide ELL with committed capital for its fleet expansion and maintenance infrastructure across its European network.

The refinancing comprises bullet term loans across several tenors and also includes a €400 million sustainability-linked revolving capex facility.

The Latham team was led by London infrastructure partners Conrad Andersen and Amanda Fortuna, with associates Evan Whyte, Yuka Nagata, Matt Richardson, and Lewis Morley. Additional advice was provided by Frankfurt partner Sibylle Münch, with associate Verena Birke. Advice on derivatives matters was provided by London partner Delyth Hughes, with associate Fadzai Ramwi; and on tax matters by London partner Karl Mah and Munich partner Ulf Kieker, with London counsel Amy Watkins, associate Ruby Wong, and Hamburg associate Henning Kleymann.