The Skanska and John Laing consortium have reached financial close on 19 April 2011 for the Croydon and Lewisham Streetlighting PFI project. Under the contract, the Skanska-Laing consortium will take responsibility for the design, build, finance and operation of the stock of lighting columns and illuminated furniture across the London boroughs of Croydon and Lewisham for a period of 25 years starting from August 2011.
The senior funding of around £74m is provided jointly by Lloyds Bank and NIBC Bank.
Operis provided financial model due dilligence services as well as a tax and accouting review for the lenders and the sponsors.
