HICL closes stake in Scottish schools PPP

23 October 2012 HSBC Infrastructure Company (HICL) has acquired a 30% equity and loan note stake for a Scottish schools PPP.

HICL completed the 30% acquisition this week in the Fife Schools 2 PPP project for approximately £3.9m, which is in line with the current valuations of similar UK PFI projects in the company’s portfolio.

The schools project is a 25-year concession for the design, construct, finance and maintenance of nine primary schools as well as one special education facility across eight sites in Fife.

Miller Construction built the schools in 2007 under a fixed price construction contract, and currently, the schools accommodate in excess of 3,000 students.

The acquisition was funded from the group’s existing cash and debt resources.  

This page was last updated on:
21 September 2014.

thumb

Lacking inspiration

Party conference season has yet to shine any light on what a new government might do in infrastructure come next May

thumb

The Credit Crunch Did Us a Favour

For some in the banking sector, the global financial crisis offered opportunities as well as challenges. Nord LBs Sean Cook explains

register

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

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