UK's Great Rolling Stock Company Prices GBP800M 2-Part Bond

LONDON (Dow Jones)--The Great Rolling Stock Company has priced a GBP300 million bullet bond and a GBP500 million amortizing bond via lead managers Lloyds Banking Group PLC, Goldman Sachs Group Inc. and the Royal Bank of Scotland Group PLC, one of the banks leading the deal said Wednesday. Terms are as follows: Amount: GBP300 million Maturity: July 27, 2020 Coupon: 6.25% Spread: 295 basis points over gilts Amount: GBP500 million Maturity: July 27, 2035 (WAL of 14 years) Coupon: 6.875% Spread: 310 basis points over gilts Common Terms: Payment Date: July 27, 2010 Guarantor: Willow Holdco 2 Ltd., Willow Bidco Ltd., Willow Rolling Stock UK Ltd., Angel Trains Group Ltd., Angel Trains Ltd., Train Finance 1 Ltd., Angel Locomotive Leasing Ltd., Angel Finance Holding Ltd., West Coast Train Finance Ltd. and Angel Leasing Company Ltd. Debt Ratings: BBB (Standard & Poor's) The bonds will be secured against assets of the Angel Financing Group. The proceeds from the transaction will be used for the refinancing of existing bank debt within the broader Angel Financing Group. -By Michael Wilson, Dow Jones Newswires; 44 20 7842 9349; michael.wilson@dowjones.com (END) Dow Jones Newswires July 14, 2010 04:39 ET (08:39 GMT)