CBrail

CBRail
Industry Rail transport leasing (Europe)
Predecessor 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 2 Rail Cargo information Netherlands railcargo.nl Archived 24 July 2011 at the Wayback Machine
  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 and 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. 1 2 "CBRail : About Us", www.cbrail.com, archived from the original on 20 August 2008

External links

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