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:
19 February 2018.

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