CBrail

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CBRail
Industry Rail transport leasing (Europe)
Predecessor(s) Porterbrook
Founded 2004
Headquarters Luxembourg
Parent Lloyds Banking Group
Subsidiaries Ascendos Rail Leasing
Website www.cbrail.com
www.ascendos.com

CBRail Sàrl is a European rolling stock leasing company based in Luxembourg, formed in 2004 from the European operations of Porterbrook.[1]

Since March 2010 the company's rail leasing activities in Germany and Luxembourg have been carried out by the renamed subsidiary Ascendos Rail Leasing.[2][3]

The company now forms part of Lloyds TSB Rail Capital, a division of Lloyds Banking Group.

Background

CBRail was created by the takeover of the European operations of the Porterbrooks rail leasing company by a joint venture between Babcock & Brown and Bank of Scotland Corporate Europe (a banking division of HBOS)[1] At the time of the takeover from Porterbrook the company had leasing arrangements for 28 locomotives and 67 coaches.[4][5][6][7]

Under the new financial backing, the company intended to grow to have a significant market share in the European railway leasing business; in order to do this it expanded its fleet. An order for 35 diesel and electric TRAXX locomotives was placed with Bombardier Transportation in 2006 with an option for 70 more.[8]

Through the 2000s CBRail continued to expand its fleet, including freight wagons in its portfolio.;[9] by June 2008, the company had 118 locomotives, 785 freight wagons and 103 passenger vehicles either on lease or under construction.[9]

See also

References

  1. ↑ 1.0 1.1 Rail Cargo information Netherlands railcargo.nl
  2. ↑ Ascendos Rail Leasing www.ascendos.com
  3. ↑ Current Asset Review: Period ended 31 March 2010 Page 6 , wwww.globalinvestmentslimited.com
  4. ↑ CBRail, a new rolling stock leasing company created by Babcock & Brown and the Bank of Scotland, has purchased the European arm of Porterbrook Leasing International Railway Journal, January 2005, via findarticles.com
  5. ↑ "HBOS, Babcock buy Porterbrook trains", asset-finance-international.com 
  6. ↑ CBRail, a new rolling stock leasing company created by Babcock & Brown and the Bank of Scotland (a division of HBOS), has purchased the European arm of Porterbrook Leasing, which has lease contracts in several European countries for 28 locomotives an d 67 coaches.(Europe), International Railway Journal, 1 January 2005 
  7. ↑ Mark Williamson (17 November 2004), "BoS and B&B acquire Abbey train leasing arm", www.heraldscotland.com (Herald Scotland) 
  8. ↑ Bombardier Receives $156 Million US Order from CBRail for 35 TRAXX Locomotives to Provide More Rolling Stock in Europe BusinessWire, 2 February 2006, via www.thefreelibrary.com
  9. ↑ 9.0 9.1 "CBRail : About Us", www.cbrail.com, archived from the original on 20 August 2008 

External links

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