On November 21, 2019, Amber successfully completed the refinancing of the senior debt for the 2nd phase of the Blackburn BSF.
The 25-year project involves the design, financing, construction and delivery of facilities management services at two schools within Blackburn with Darwen Borough of the United Kingdom.
The refinancing debt was raised through the current lender Nord/LB, who will receive their final repayment in February 2037 with the project concession ending in August 2037. Financial close was reached in 2010, in which Operis performed a financial model audit. Following this, Operis carried out a review of the operating financial model in 2012.
Operis was pleased to once more provide financial model due diligence for this project which included a review of the model’s tax and accounting treatments.
