Refi for Barnsley BSF

20 April 2017 Equitix has successfully refinanced half of the existing senior debt in phase 2 of the Barnsley BSF programme.

The refinancing debt was raised through current lender Nord LB and the proceeds were used to exit Nationwide’s exposure to the project.

Nord is now the sole lender and will expect its final repayment in June 2036, with the project finishing in December 2036.

The project was part of a three-phase £1bn programme which reached financial closed between 2009 and 2010 to replace all 13 of the Barnsley Metropolitan Borough Council’s secondary schools with nine new-build Advanced Learning Centres, combined with the improvement of the special school estate. 

Operis performed an audit of the financial model.

Last June, John Laing Infrastructure Fund sold its entire 40% equity and subordinated debt interest in the Barnsley BSF project to Equitix.

This page was last updated on:
20 November 2017.

thumb

Action not words

UK ministers need to recognise that simply stating the problem and the needs is not the same as developing effective policies to deliver new homes

thumb

The Delivery Man

Gerard Cahillane, deputy director at Ireland’s NDFA, tells Paul Jarvis about delivering the next round of investment

register

Register now to get un-restricted access to all sections of the website.

Want to see more first? Try our free preview...