Alpha Schools were selected as preferred bidder for the Highland Schools PFI Project to build and refurbish 11 schools in the Scottish Highlands.
The capital value of the project was approximately £140m. This was funded by a split of senior loan and bond finance and had a phased commencement of operations between 2006 and 2008.
At the time, this was the biggest building project ever undertaken by Highland Council. Up to a quarter of Highland Schools were built in the 19th century and as many as a third of the Council’s 220 schools were considered substandard. The needs of each of the new schools have been incorporated into unique designs, which will be built in harmony with their surroundings
Operis reviewed the financial model prior to financial close on behalf of the consortium, lender and bond arrangers. Financial Close took place on Thursday 30th March at McGrigors in Edinburgh.