Refi for Aussie schools PPP

Credit: Plenary

Plenary has completed the refinancing of its Queensland Schools PPP project.

The $180m financing will be supplied by domestic bank NAB as the sole arranger through tranched 5-year and 10-year senior debt solutions.

The project, which saw the Plenary-led consortium deliver 10 schools across the state, alongside Besix & Delta, was previously refinanced in 2018 after completion for around $200m.

The schools will continue to be operated and maintained by the consortium for 25 years.

“Our knowledge of this project, having been actively involved as asset manager for 10 years now, has allowed us to achieve a positive refinancing outcome despite the challenging interest rate environment,” said Plenary’s origination executive director James Dixon.