UK - Refinancing gains for Haringey Council

Jarvis and Barclays head deal

A PFI company headed by Jarvis Projects and Barclays Infrastructure has entered into a refinancing deal with Haringey Council.

According to Eversheds, the £50m private financing of the secondary schools and the subsequent refinancing of terms will save the local authority more than £44m over 22 years.

The refinancing deal began following the completion of the initial stages of the contract in August 2003. Following the completion of the refinancing project on 12 September 2003, Haringey Council received a one-off payment of £750,000 and have been able to reduce the annual costs over the remainder of the contract.