Balfour Beatty Capital and Ealing Borough Council reached financial close for Ealing BSF on 15 December 2010.

The project involves the complete rebuilding of Dormers Wells High School in Southall and the maintenance of this school until 31 March 2038, and the refurbishment of The Cardinal Wiseman School in Greenford. Construction work for Dormers Wells High School is expected to be completed by 31 August 2012.

The project involves £35 million of debt equally provided by Dexia and Nord LB.

Operis provided financial model due diligence services as well as tax and accounting review on behalf of the lenders and the sponsor.

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