Latham & Watkins has advised Saudi Railway Company (SAR) on its inaugural financing, a CHF 254 million export credit facility backed by Swiss Export Risk Insurance (SERV) and a group of banks including KfW IPEX-Bank, Commerzbank, and UBS Switzerland, to finance 10 new passenger trains from Swiss manufacturer Stadler. The purchase is part of SAR’s strategic plans to expand and develop its passenger fleet.
The transaction will enhance transportation options and intercity connectivity, support business and tourism, and increase the share of rail transport, in line with the National Transport and Logistics Strategy and Saudi Vision 2030.
The Latham team was led by Riyadh partner Derek McKinley, with London associate Sam Burleton, Dubai associate Isabel Lowson, and assistance from Shelby Lee and Abdulmohsen AlSaleh.
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