QW Rail Leasing
Encyclopedia
QW Rail Leasing is a Rolling Stock Operating Company
(ROSCO) formed in 2008 to fund the purchase of rolling stock
in the United Kingdom
, which would then be leased to train operating companies or TOCs
. The company was formed as a joint venture between the National Australia Bank
and SMBC Leasing and Finance
, with its first major leasing deal coming with Transport for London
to fund the £300 million purchase of 54 Class 378
electric multiple units for London Overground
.
Rolling Stock Operating Company
In the United Kingdom, a Rolling Stock Operating Company owns and maintains railway engines and carriages which are leased to Train Operating Companies who actually operate the trains....
(ROSCO) formed in 2008 to fund the purchase of rolling stock
Rolling stock
Rolling stock comprises all the vehicles that move on a railway. It usually includes both powered and unpowered vehicles, for example locomotives, railroad cars, coaches and wagons...
in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, which would then be leased to train operating companies or TOCs
Train operating company
The term train operating company is used in the United Kingdom to describe the various businesses operating passenger trains on the railway system of Great Britain under the collective National Rail brand...
. The company was formed as a joint venture between the National Australia Bank
National Australia Bank
National Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalisation and customers. NAB is ranked 17th largest bank in the world measured by market capitalisation...
and SMBC Leasing and Finance
Sumitomo Mitsui Banking Corporation
is a Japanese bank based in Yurakucho, Chiyoda, Tokyo, Japan. It is a member of the Sumitomo Group and Mitsui Group. As of the year 2009, SMBC was the second largest bank in Japan in terms of assets.-History:...
, with its first major leasing deal coming with Transport for London
Transport for London
Transport for London is the local government body responsible for most aspects of the transport system in Greater London in England. Its role is to implement the transport strategy and to manage transport services across London...
to fund the £300 million purchase of 54 Class 378
British Rail Class 378
The Class 378 Capitalstar is a type of electric multiple-unit train, part of Bombardier Transportation's Electrostar family. These trains are operating on the new London Overground network...
electric multiple units for London Overground
London Overground
London Overground is a suburban rail network in London and Hertfordshire. It has been operated by London Overground Rail Operations since 2007 as part of the National Rail network, under the franchise control and branding of Transport for London...
.