Carillion successfully achieved financial close of the Rochdale BSF project on 11 January 2010. This project comprises of a ten year LEP concession managed by inspiredspaces (a company set up by Carillion to deliver educational transformation through the government’s Building Schools for the Future programme), and a 25 year concession to rebuild, maintain and operate Hollingworth Business and Enterprise College under the PFI scheme.

The procuring authority, Rochdale Metropolitan Borough Council (RMBC), aims to refurbish or rebuild 13 schools and pupil referral units, with a total of four schools procured under the PFI scheme. RMBC have committed to spending £196m over three phases.

Hollingworth received in total financing amounting to £28.3m, of which £24.8m will be senior debt arranged by Barclays and £3.48m will be funded through an equity bridge, supported by a subordinated loan. Construction is scheduled to be completed on 4 September 2011, in time for the 2011/12 academic year.

Operis have been advising Carillion on the project since October 2008, having built both the financial models for Hollingworth PFI and the LEP. Carillion and Operis have an ongoing relationship for several BSF schemes, and Rochdale BSF was the second such project to close following Durham BSF in August 2009.

Share now

CONTACT US

Please get in touch with either of our regional offices.

https://www.operis.com/wp-content/uploads/2021/01/Erwan-Fournis-500x500.png
Erwan Fournis
Global Head of Financial Advisory

+44 207 562 0444

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/05/Carmen-Wade-500x500.jpg
Carmen Wade
Financial Advisory, Head of North America

+1 647 243 3840

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/03/Jun-Tao-500x500.png
Jun Tao
Global Head of Model Audit & Financial Modelling

+44 207 562 0428

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/04/Mark-Southall-500x500.png
Mark Southall
Associate Director - Model Audit & Financial Modelling

+1 647 846 7384

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/05/Philip-Allen-500x500.jpg
Philip Allen
Head of Training [javascript protected email address]

Operis Europe

View Google Map
+44 207 562 0400
[javascript protected email address]

Operis North America

View Google Map
+1 647 846 7382
[javascript protected email address]

CONTACT US

Discuss your requirements with us

https://www.operis.com/wp-content/uploads/2021/01/Erwan-Fournis-500x500.png
Erwan Fournis
Global Head of Financial Advisory

+44 207 562 0444

[javascript protected email address]
https://www.operis.com/wp-content/uploads/2021/03/Chirs-Aldred-500x500.png
Chris Aldred
Director

+44 207 562 0433

[javascript protected email address]
Name(Required)
Consent(Required)
This field is for validation purposes and should be left unchanged.