Latham & Watkins has advised the funders on a new £455 million common terms platform financing for NRG Riverside, comprising both bank and institutional facilities. NRG Riverside is a market-leading lessor of specialist vehicles that are required by its customers to perform essential waste collection services as well as other critical services including winter maintenance (gritters), highway maintenance, and infrastructure activities.
The common terms platform financing provides the business with a more efficient funding structure to invest significantly in its fleet to meet growing customer demand, driven by the introduction of food waste recycling legislation as well as the further adoption of electric vehicles and continued expansion in other infrastructure vehicle segments.
The Latham team was led by London infrastructure partners Seonaid Todisco and Conrad Andersen, with associates Lothar Krumpen, Alessandra Pirozzolo, and Lewis Morley. Advice on derivatives matters was provided by London counsel Delyth Hughes, with associates Nick Surry and Airlia Hie; and on tax matters by London partner Karl Mah, with associate Allegra Benitah.
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