Standard Chartered part of international banking group to provide financing for The Go-Ahead Group

Standard Chartered is part of an international consortium of banks, who arranged and underwrote debt facilities for The Go-Ahead Group*, one of the leading transport providers in the UK. Go-Ahead was taken private in October 2022 through a joint venture between Kinetic, a leading Australian and New Zealand bus operator, and Globalvia, a Spanish infrastructure investor.

The new debt facilities will put in place a long-term financing structure, which will refinance existing debt facilities and support the existing operations, whilst providing essential funding to implement the group’s corporate strategy over the next five years. The Group’s strategy is centered around a long-term decarbonisation plan and growing the business, both organically and through acquisition.

KfW IPEX-Bank, Rabobank and Standard Chartered acted as Joint Global Coordinators, Bookrunners, Underwriters and Initial Mandated Lead Arrangers. Cornerstone lenders comprise of HSBC UK, Royal Bank of Scotland and Export Development Canada. The banks’ facilities were over-subscribed and have been successfully syndicated to a group of international banks.

David Law, Head of Leveraged Acquisition Finance for Europe and Americas at Standard Chartered, said: “We are delighted to support the refinancing of The Go-Ahead Group as Joint Global Coordinator, Bookrunner, Underwriter and Initial Mandated Lead Arranger. The oversubscription of the transaction is testimony to the strong credit quality of the business. Go-Ahead Group’s strategic goals, centred on an ambitious growth agenda and long-term decarbonisation plans like the electrification of its UK bus networks, were extremely well received by the market.”

Gonzalo Velasco, Group Structured Finance Director, The Go-Ahead Group Limited said: “Our new bank debt facilities mark a milestone in the relationship with our core bank group and supports the ambitious growth strategy of The Go-Ahead Group. Rabobank, KfW IPEX-Bank and Standard Chartered took the lead in arranging, underwriting and syndicating this landmark transaction. Thanks to the deal teams for excellent cooperation.”

The new committed debt facilities also include a 7-year private placement note provided by Pricoa Private Capital.  PwC Debt and Capital Advisory acted as debt advisor to The Go-Ahead Group Limited on its refinancing.

*The Go-Ahead Group – Reconnecting people and communities

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For further information please contact:
Julien Moity
Senior Communications Manager, Europe
Tel: +44 (0)7918 601617
Email: julien.moity@sc.com

Note to Editors

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