Booking Links: Eurostar / East Midlands / First Capital Connect / Southeastern Railway
23 March 2010
Invitation by London & Continental Railways (LCR) to express interest in the provision of financing in connection with the sale of its subsidiary, HS1 Ltd
At the time of the pre-Budget Report in December 2009, the Government announced the intention for LCR to sell HS1 Ltd, the holder of the concession to operate the high-speed railway line from St. Pancras International to the Channel Tunnel.
As part of the ongoing preparation for that sale process, LCR is seeking to procure a potential financing package for HS1 Ltd in the form of either a "stapled" bridge-to-bond financing or a bond issue to be executed before conclusion of the sale (the “Financing Package”).
It is envisaged that both parts of the Financing Package would be available to be taken up by HS1 Ltd if HS1 Ltd so desires prior to the sale and/or the “stapled” bridge financing be available to HS1 Ltd’s eventual acquirer(s) should it decide to use it at the time of the acquisition. The terms of the proposed bridge financing would therefore be made available to parties selected to bid for HS1 Ltd, in addition to HS1 Ltd/LCR.
For the sake of clarity, no announcement is being made at this time as to the precise timing of the sale process for HS1 Ltd itself or in relation to any financing alternatives.
Interested parties should contact Nick Roberts at LCR to receive a Pre-Qualification Questionnaire letter which includes further details of the potential financing. Responses from interested parties must be received by LCR by 5:00pm (London time) on 9 April 2010.
Contact details:
Nick Roberts, Group Treasurer, LCR
+44 20 7391 4313
nroberts@lcrhq.co.uk
Press enquiries: Ben Ruse, Director of Media, LCR
+44 20 7391 4369
bruse@lcrhq.co.uk
Ends