Bromsgrove Schools PFI closes for BAM 6 Jan 2006

HBG PFI Projects Limited, now renamed BAM PPP, signed this PFI contract on 20 December 2005 to replace seven existing schools for Worcester County Council with five new schools in Bromsgrove.

Operis provided due diligence advice to funders Dexia Public Finance Bank and BAM. Total funding for the project was £64m arranged under standard PFI contract, project finance terms. BAM PPP provided the equity and subordinated debt.