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Topic: Porterbrook Leasing

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	Porterbrook staff in £80m bus windfall
		FOUR directors and 45 staff at railway leasing company Porterbrook stand to share £80m from the £475m sale of the group to acquisitive bus operator Stagecoach.
		Porterbrook, based in Derby, owns 3,774 train carriages and made a pre-tax profit of £86m on turnover of £263m in the year to the end of March.
		This will later be replaced by a securitisation arrangement whereby the £550m will be repaid over seven years from revenue deriving from the leasing arrangements Porterbrook has with 16 of the 25 train operating companies.Stagecoach is financing the remainder of the deal with a 1-for-6 rights issue at 410p to raise £111m.
	www.telegraph.co.uk /htmlContent.jhtml?html=/archive/1996/08/01/cnbus01.html (500 words)

	Porterbrook - Code of Practice
		Additional criteria applicable to individual leases will, whenever it is reasonably possible to do so and subject to confidentiality requirements, be identified to customers during negotiation of a lease, including during the negotiation of any variations of a lease.
		The length of the proposed lease period is one of the factors influencing the lease charge (as listed in paragraph 2.20).
		In particular, lease charges will typically reflect the impact of different length leases on the expected value of the rolling stock over its entire lifetime, with lower charges tending to apply where uncertainty about releasing is reduced.
	www.porterbrook.com /english/code.html (3450 words)

	House of Commons - Transport - Written Evidence (Site not responding. Last check: )
		This paper focuses on the role of Porterbrook Leasing in procuring new rolling stock to replace Mark 1 vehicles on the former Southern Region within the legislated deadline of 31 December 2004.
		Porterbrook Leasing placed an order with Bombardier Transportation for the procurement of 700 Electrostar vehicles to replace Mark 1 rolling stock, and to provide the opportunity for passenger growth, across the South Central network.
		Porterbrook has a role, in conjunction with South Central and Bombardier, in monitoring the reliability and performance of Electrostar units already in passenger service to ensure that any issues detrimental to the performance of the vehicles are managed appropriately to conclusion by the responsible party.
	publications.parliament.uk /pa/cm200304/cmselect/cmtran/836/836we02.htm (951 words)

	Porterbrook - Wikipedia, the free encyclopedia
		Porterbrook is one of the three major ROSCOs (ROlling Stock COmpany) in the United Kingdom.
		In 1996 it was sold as in a management-employee buyout and subsequently owned by Stagecoach Group until 2000 when it was taken over by the Abbey National bank.
		Since 1996 Porterbrook has spent more than £1.5bn on new rolling stock in the UK and also leases to freight company Freightliner.
	en.wikipedia.org /wiki/Porterbrook (189 words)

	Porterbrook - Code of Practice
		Additional criteria applicable to individual leases will, whenever it is reasonably possible to do so and subject to confidentiality requirements, be identified to customers during negotiation of a lease, including during the negotiation of any variations of a lease.
		The length of the proposed lease period is one of the factors influencing the lease charge (as listed in paragraph 2.20).
		In particular, lease charges will typically reflect the impact of different length leases on the expected value of the rolling stock over its entire lifetime, with lower charges tending to apply where uncertainty about releasing is reduced.
	www.porterbrook.net /english/code.html (3450 words)

	/99
		Porterbrook Leasing Company Limited ("Porterbrook"), a subsidiary of Abbey National Treasury Services plc, has signed a lease agreement with ShortLines BV for 2 Series 66 General Motors diesel locomotives with a value of Ä6 million.
		Porterbrook has a rolling stock fleet of over 4,000 vehicles on lease for periods up to 2011, which includes about 3,200 passenger vehicles.
		Porterbrook has been highly successful in winning new train orders since privatisation, with £800 million in new business won — investing in over 1,000 new vehicles and in the refurbishment of much of its in fleet equipment.
	www.artech.se /~sandblom/archive/porterbrook.html (635 words)

	Porterbrook
		Porterbrook Leasing, a part of Abbey National Treasury Services, has appointed Alex White to be its new Operations Director.
		Porterbrook has a rolling stock fleet of over 5,500 vehicles on lease or on order, which includes about 4,000 passenger vehicles.
		Porterbrook has been highly successful in winning new train orders since privatisation, with over £1.3 billion in new business won - investing in over 1,400 new passenger vehicles and over 1,100 new freight locomotives and wagons, and in the refurbishment of much of its in-fleet equipment.
	www.porterbrook.co.uk /english/newspages/story15.htm (357 words)

	Porterbrook Leasing
		Porterbrook, the train leasing subsidiary of Stagecoach, is expected to soon place a £25m order for new diesel trains that will be offered on short-term leases to train operators.
		Stagecoach says it will avoid having its acquisition of Porterbrook Leasing referred to the Monopolies & Mergers Commission by complying with conditions set by the Department of Trade and Industry.
		Stagecoach has made a £825m bid for Porterbrook Leasing, the railway rolling stock leasing company, a move which may be referred to the Monopolies & Mergers Commission.
	www.ukbusinesspark.co.uk /pog99101.htm (131 words)

	webitpr \| Benefits Of Interfleet Project Are Clear To See For Porterbrook
		After considering a number of options for Porterbrook, which included sourcing replacement compliant units for each of the carriages, Interfleet’s team commissioned the design of custom electronics to increase the size of the LED matrix inside the displays, increasing the size of the text to 40mm and change the colour from red to regulation-compliant yellow.
		Porterbrook Leasing Company Limited ("Porterbrook") is a leading player in the rail leasing market.
		Porterbrook has been highly successful in winning new train orders since privatisation, investing in over 1,500 new passenger vehicles and over 1,200 new freight locomotives and wagons, and in the refurbishment of much of its in-fleet equipment.
	www.webitpr.com /release_detail.asp?ReleaseID=4592 (534 words)

	Bombardier Wins A $1.49 Billion Order for Electric Multiple Units in the UK
		Porterbrook Leasing Company Limited ("Porterbrook") is a leading player in the UK rail leasing market.
		Porterbrook has been highly successful in winning new train orders since privatisation, with over 1.3 billion Pounds Sterling in new business won - investing in over 1,100 new passenger vehicles and 1,100 new freight locomotives and wagons, and in the refurbishment of much of its in-fleet equipment.
		In April 2000 the Porterbrook group of companies was acquired by Abbey National Treasury Services plc, part of Abbey National Group.
	www.theautochannel.com /news/2002/03/11/036963.html (903 words)

	RMT - RMT submission to the SRA consultation on rolling-stock strategy (Site not responding. Last check: )
		The three rolling stock companies (ROSCOs), Angel Trains Ltd, Porterbrook Leasing Company Ltd and HSBC Rail (UK) Ltd, have found a particularly lucrative niche in the money-go-round that is now a key feature of the rail industry in the post-privatisation era.
		Eversholt Leasing and Porterbrook were both acquired by management buy outs for £500million and £527million in turn.
		The money-go-round did not end there; Porterbrook was sold to Stagecoach in August 1996 for £825million; Eversholt Leasing was sold to Forward Trust Holdings a subsidiary of HSBC in February 1997 for £726million; The Royal Bank of Scotland in December 1997 snapped up Angel Trains for £395 million.
	www.rmt.org.uk /Templates/Internal.asp?NodeId=92660 (1522 words)

	Latest News \| News \| Hemscott
		ORR said it had found the leasing firms were making excess profits and that in many instances, train operators had very limited choice in available rolling stock.
		The three main passenger rolling stock leasing companies are Porterbrook Leasing Co Ltd, owned by Banco Santander Central Hispano unit Abbey Group, HSBC (Rail) UK Ltd and Angel Trains Ltd, a division of Royal Bank of Scotland.
		In a statement, Porterbrook expressed disappointment at the decision, saying it believed present competition in the market was effective and was delivering efficient outcomes for the industry and passengers.
	www.hemscott.com /news/latest-news/item.do?newsId=37754910166387 (505 words)

	No sleepers here. \| Asset Finance International (October, 2002) (Site not responding. Last check: )
		Porterbrook Leasing, the rolling stock financing company, was bought by Abbey National in 2000 for 773 million [pounds sterling].
		Abbey National Treasury Services is our 100% shareholder and parent company and we are answerable to them because of this and a fairly formalised corporate governance structure is in place.
		Jonathan Sweetman is the finance director, who came from RBS and has a lot of experience in banking and leasing areas.
	www.accessmylibrary.com /coms2/summary_0286-2705000_ITM (380 words)

	Trains Online : Britains Railway, Electronically Delivered (Site not responding. Last check: )
		In April 1994, Porterbrook Leasing Company Limited (Porterbrook) took over one third of British Rail's rolling stock with leases in place with the newly created passenger train operators.
		Porterbrook was also the first ROSCO to add freight equipment to its portfolio through a sale and lease-back arrangement with Freightliner in May 1996.
		Porterbrook's Investment to date in the UK rail market totals over £1.5 billion in new trains and over £200m on existing fleet refurbishment.
	www.trainsonline.co.uk /rollingstocksuppliers/porterbrook.htm (183 words)

	Porterbrook Home Page
		Porterbrook Leasing Company specialises in the leasing of all types of railway Rolling Stock and associated equipment.
		Porterbrook's Business Philosophy is to offer a full range of Rolling Stock Leasing Products tailored to meet our customer's particular needs.
		Porterbrook purchases new Siemens Class 350 Desiro trains for West Midlands Franchise
	www.porterbrook.co.uk (108 words)

	Directors made millions in BR sell-off 'fiasco'
		TAXPAYERS were deprived of almost £1 billion by a mishandled privatisation that made multi-millionaires of a handful of former British Rail managers, according to a damning Commons report.
		All three companies, Porterbrook Leasing Company Limited, Eversholt Leasing Limited and Angel Train Contracts Limited, enjoyed windfall gains and there were no provisions to claw back any later profits.
		Sandy Anderson, Porterbrook's managing director, made £33.5 million from the sale, while five other directors shared a £30 million profit and 49 staff received about £400,000 each.
	telegraph.co.uk /htmlContent.jhtml?html=/archive/1998/08/10/nrai10.html (639 words)

	Moseley Railway Trust - Latest News: Porterbrook Leasing gives helping hand to Moseley Railway Trust
		Porterbrook Leasing has donated two locomotive nameplates to the Moseley Railway Trust (MRT).
		The attached photograph shows Porterbrook’s Karen Jackson (left!!) presenting one of the nameplates to the MRT’s Phil Robinson (right!).
		These small, self-contained railway systems were often hidden away from the general public and served such diverse industries as brickmaking, sewage works, munitions factories, mines, civil engineering and many more.
	mrt-news.blogspot.com /2007/03/porterbrook-leasing-gives-helping-hand.html (410 words)

	GNER.co.uk > Press releases 2007 > GNER LAUNCHES NEW-LOOK TRAINS
		GNER leases ten diesel HSTs from Angel Trains and three from Porterbrook Leasing.
		The companyâs 30 electric Mallard trains are leased from HSBC Rail and were rebuilt over a two-year period up to November 2005 at a cost of Â£30m.
		The HST refurbishment project is being financed by the train leasing companies and owners of the trains â“ Angel Trains, a wholly-owned subsidiary of the Royal Bank of Scotland Group, and Porterbrook Leasing, a wholly-owned subsidiary of Abbey.
	www.gner.co.uk /GNER/PressCentre/PressReleases07/GNER+LAUNCHES+NEW-LOOK+TRAINS.htm (610 words)

	Equipment leasing expands in Europe - Train Leasing International Railway Journal - Find Articles
		Motive power and rolling stock leasing is rapidly expanding in Europe as both existing and new operators realise the benefits compared with outright purchase.
		Operating leases are a good way to package maintenance and other services to their traditional equipment sales business.
		On the demand side, the first reason for contracting operating leases is the development of time-limited franchises, which started in Britain, but increasingly are being set up in Europe, particularly for regional passenger services.
	www.findarticles.com /p/articles/mi_m0BQQ/is_6_43/ai_105203016 (804 words)

	FT.com / World / UK - Probe ordered into train leasing companies (Site not responding. Last check: )
		The companies that lease carriages to train operators are to be investigated by the Office of Rail Regulation after a complaint from the Department for Transport over the cost of leasing older trains.
		Tom Winsor, former rail regulator who has advised Angel Trains, the largest leasing company, over the recent discussions, said the government's call for an investigation was an unjustified assault on the most successful part of the privatised rail industry.
		The market is dominated by three leasing companies set up as part of the privatisation of British Rail but now owned by large banking groups - Angel Trains, owned by RBS; Porterbrook Leasing, owned by Banco Santander's Abbey subsidiary; and HSBC Leasing, part of HSBC group.
	www.ft.com /cms/s/cf99c06a-070a-11db-81d7-0000779e2340.html (402 words)

	celex-txt - 31995M0669 -
		Porterbrook is also responsible for certain heavy maintenance of the rolling stock.
		The provision of rolling stock through operating leases differs from the provision of rolling stock either through finance leasing or by outright purchase by the train operator.
		Operating leases are structured over a shorter period than the economic life of the asset and, consequently, are aimed at a shorter period of supply, geared to the needs of the TOCS, which have franchises limited to some 710 years.
	europa.eu.int /smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=en&numdoc=31995M0669 (1381 words)

	Rail Links > Rail Industry > Leasing
		Leasing services to shippers, industrial users, and Class 1, regional and short-line railroads.
		Railcar and locomotive equipment leasing company offering locomotives and parts, flatcars, boxcars, open top, ballast and covered hoppers, and gondola railcars for lease and sale.
		Specialised leasing of all types of railway rolling stock and equipment to train operators internationally.
	www.railsusa.com /links/Rail_Industry/Leasing (214 words)

	Railway Technology - Bombardier Receives a $121-Million Order for the Supply of Diesel Multiple Units for the United ...
		The Turbostar trains are being acquired by Porterbrook in anticipation of the growing needs of the expanding railway in Britain.
		Paul Francis, Managing Director for Porterbrook Leasing Ltd., said: 'With the current and future changes in franchises in the UK rail industry we are keen to be innovative in our approach to supplying the future rolling stock needs of our customers.
		Porterbrook has been highly successful in winning new train orders since privatisation, with over £1.3 billion in new business won — investing in over 1,350 new passenger vehicles and 1,100 new freight locomotives and wagons, and in the refurbishment of much of its in-fleet equipment.
	www.railway-technology.com /contractors/suburban/bombardier5/press14.html (763 words)

	Market reports, business information and market research from Midnight Croquet. Key Note Equipment Leasing Report.
		Expenditure on equipment leasing in the UK increased by an estimated 4.9 percent in 2002, to £27.44bn.
		Prospects for leasing companies are directly linked to their clients' own business expectations and how these affect their need to make short-, medium- and long-term investments in new equipment.
		Leasing to central government and local authorities tends to carry the fewest risks for lessors and these customers are making greater use of leasing for the modernisation of their services and as part of their commitment to private finance initiatives (PFIs) and public/private partnerships (PPPs).
	www.the-list.co.uk /acatalog/kn71013.html (925 words)

	Equipment Leasing: Market Report 2003: Industry Report
		Expenditure on equipment leasing in the UK increased by an estimated 4.9% in 2002, to £27.44bn.
		Despite the many advantages that leasing offers to the wide range of industries and institutions that make use of this service, growth rates could be improved by more positive tax benefits for lessees, which would make leasing more attractive to potential customers.
		Manufacturing investment has been the poorest-performing sector in the leasing market, reflecting the growing trend among companies in the textile, engineering, chemical and other industries to close factories and plants in the UK and/or relocate their businesses in other countries, such as China.
	www.mindbranch.com /listing/product/R310-967.html (652 words)

	House of Commons - Transport - Written Evidence (Site not responding. Last check: )
		Currently, Porterbrook only has one such Section 54 undertaking, and this is in respect of our lease of Electrostar vehicles to the South Central franchise.
		The original intention of the undertaking given was that it would fall away at the point that a new 20 year franchise with Govia/South Central was entered into by the SRA.
		Thereafter Porterbrook would have fully relied upon the provisions of the Direct Agreement as detailed in the attached note.
	publications.parliament.uk /pa/cm200203/cmselect/cmtran/201/201we33.htm (381 words)

	Porterbrook - Vehicles For Sale
		From time to time, vehicles become surplus or have no further leasing opportunities.
		In these circumstances, Porterbrook may sell such vehicles for a variety of uses other than main line operation.
		Porterbrook no longer has any Mk1 stock or Mk3 sleeping cars for sale.
	www.porterbrook.com /english/vehiclesforsale.html (75 words)

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