Hounslow Highways reaches close
Debt finance for the deal will be split between Bank of Tokyo-Mitsubishi and German banks DZ and KfW.
Jonathan Hart, a partner at the consortium’s legal adviser Pinsent Masons, used the opportunity to call on the government to end the uncertainty surrounding future PFI projects.
“Closing this project with the Vinci-BIF and Ringway teams is an important benchmark for the infrastructure market, having been achieved at a time of significant uncertainty in the PFI market pending the outcome of a government review into funding models,” he said.
“While this project has been relatively unaffected due to the pragmatism of all involved, it is essential that more certainty around PFI is created sooner rather than later.”
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